The people of Budapest would move to Lake Velence

HVG.hu reports that there’s a boost in demand, hence, houses and apartments can be put on lease without any problems in the area of Lake Velence.

There’s an emerging need about Lake Velence, as more and more people are willing and intend to move there from the capital city, says the analysis of the real estate agency, Balla Ingatlaniroda. The reasons of this growing tendency might be the extraordinary rise in the prices of properties in Budapest and the decrease of supply.

Thus, the number of people noticing the advantages of living in Lake Velence is growing, especially because the infrastructure is beneficial: it’s one of the best surrounding areas of Budapest, somewhat far from it, yet, it doesn’t take much time to get to the capital.

For example, by trains after a 40 minutes time of travelling passengers can change to metro line M4 in Budapest, but by car, taking the M7, the border of the city can be reached in about 20-25 minutes, writes HVG.

Furthermore, after a long time of surplus in supply, it is finally in balance with the demand now, therefore, prices have increased about 10-20% over the past year. Currently, demand is the highest for flats and apartments of less than 10 million HUF, and for self-contained houses, which are for sale at a price of 10-20 million HUF.

Such amount of money mean an average price of 150-160 thousand HUF per square metre. Though, despite the growing interest in the properties, especially in those which are available for rent about Lake Velence, investors haven’t taken the opportunity of fulfilling such demands yet.

Therefore, the real estate agency suggests that, whoever is planning to purchase a property by Lake Velence as an investment, would have no problems with leasing it, as many people are looking for rents there.

Photo: facebook.com/LakeVelence

Copy editor: bm

Source: hvg.hu