PHOTOS: The government wants to sell one of Budapest’s biggest palaces

That is because the Hungarian Ministry of Finances will move to their new palace built in the Buda Castle.

According to 444.hu, the Ministry of Finances will move to the Buda Castle after 76 years. Thus, they will abandon their headquarters in the József nádor Square in Budapest’s 5th district, near the famous Váci Street and Vörösmarty Square.

The Ministry of Finances was in the Buda Castle until the end of WWII. The second biggest city siege of the World War took place in Budapest. The American and British bombers, and the Soviet artillery destroyed most of the city. The heaviest fight took place in the Buda Castle District where the German and Hungarian defenders took their last stand. Therefore, most of the historic buildings there suffered serious damages, and the Communist regime lacked the money and the will to rebuild everything there.

For example, they rebuilt the Royal Castle. Not in its original beauty but in a simplified way. However, they did not rebuild the Headquarters of the Hungarian Red Cross, Archduke Joseph’s Palace, or the original palace of the Ministry of Finances.

The Hungarian government decided to do so step by step in the framework of the National Hauszmann Program. As a result, the ministries can move to their original Buda Castle seats. However, that means they will leave some valuable buildings, mostly in the Pest side of the city.

Hungary’s business sector can get back nationalised palace

That is what happens in the case of the Ministry of Finances, too. Mihály Varga, Hungary’s finance minister, said that the current palace that serves as the seat of the minister was originally the headquarters of one of the first Hungarian banks, the Magyar Általános Hitelbank Rt. (founded in 1867).

However, the post-war government nationalised it in 1947. The palace was built, following the plans of Ignác Alpár, in 1909. The minister said the Hungarian state should give that back to the business sector.

Here are some more photos of the finance ministry palace:

Concerning the future of the Hungarian economy, Mr Varga remained positive. He mentioned a 5.2% inflation and 3.6% general economic growth in Hungary for 2024.

Read also:

• Beautiful palace with biggest dome being rebuilt in the Buda Castle – Read more and check out the photos HERE
• Magnificent Art Nouveau palace in Budapest to be restored to its former glory – HERE are the details and the visual plans

This will be the new seat of the Hungarian finance ministry: