“Budapest can transform to basically any major European city”. In the words of Steven Spielberg. The Hungarian capital has undergone a tremendous revival in the last ten years. Straddling the Danube, between the Buda hills to the west and the plain where Pest lies, it is the sumptuous backdrop to a thousand years of eventful history. Renaissance, classical, baroque – all architectural styles can be found here. From the underground thrills of the ruin bars in the old Jewish quarter to the Gellert and Lukacs baths, from the trendy restaurants and cafés on Andrassy Avenue to those on Bartok Béla Boulevard, its peaceful lifestyle attracts millions of tourists. Its advantageous tax regime and safe environment have also made it a favourite place to live for a growing number of expatriates.
The real estate market: A spectacular growth
Prices have dramatically increased over the past 5 years in Budapest. In fact, in 2019 Budapest was rated the 3rd highest city in the world for property prices appreciating an average of 19% annually as well as a steady 7%-10% of rental yields. From 2014 prices have doubled by 2018 and since then until today prices have already quadrupled in the city centre. Number of tourists and expats working and living in Hungary have risen constantly over the past 5-10 years taking advantage of Hungary’s mild weather, very attractive tax incentives and very safe environment.
Our advice
“Choose your neighbourhood carefully based on its history and characteristics so that it matches your criteria. Get in touch with us to make sure that it does”, says Zoltán Hamza, Director of BARNES Hungary.
Expatriates prefer districts 5 and 6 for their proximity to the city centre, while families opt for districts 1, 2, 3 or 12. Buda attracts those who enjoy peace and quiet, while Pest is favoured by a younger population.
“Districts 1, 2, 5, 6, 7 and 12 are the most sought after in Budapest.”
The advice of Zoltán Hamza , Director of BARNES Hungary “For an investment, target districts 5, 6 and 7, located in the centre of Budapest.”
The secret to Budapest “Pest is retail and office-oriented. Most of the apartments for rent are already furnished and ready to move into. Buda is more residential and quieter and will appeal to families. There you’ll find exclusive villas and spacious houses.”
A cultural scene
BARNES has put together a selection of top restaurants, trendy boutiques and cultural venues to help you discover what the fascinating city of Budapest has to offer! Diaries at the ready!
Out and about
The Herend
©Herend
The Herend stores showcase ceramics and pottery. Visit their flagship shop in the 5th district or the one on Andrássy Avenue. The ideal place to find one-of-a-kind vases, figurines or tea sets.
Budapest, József nádor tér 10-11, 1051 Hungary
Omorovicza
©Omorovicza
Omorovicza, whose mission is to offer you the best (and only the best) for your skin. The products? Composed of thermal water, with multiple properties. The boutique and spa is fabulously decorated.
Budapest, Andrássy út 45, 1061 Hungary
Paloma
©Paloma
Paloma, a huge space that showcases local fashion brands and artists who are making the country famous. All this in a modern, industrial setting.
Budapest, Kossuth Lajos u. 14, 1053 Hungary
Retrock
©Retrock
Retrock, a store that offers a careful selection of second-hand items. Here, everything has been thought out so that each customer can find that special gem that speaks to them.
Budapest, Anker köz 2-4, 1061 Hungary
The hottest reservations in town
Menza
©Menza
Menza, a restaurant that serves traditional Hungarian cuisine (such as beef goulash with home-made spaetzle) in a hip, seventies-influenced setting.
Budapest, Liszt Ferenc tér 2, 1061 Hungary
Divin Porcello
©Divin Procello
Divin Porcello, where Spanish tapas culture meets Italian aperitifs and the spicy flavours of Hungary. A unique venue.
Budapest, Apáczai Csere János u. 7, 1051 Hungary
Borkonyha Winekitche
©Borkonyha Winekitc
Borkonyha Winekitchen, awarded a Michelin star. Not far from the Basilica, the restaurant offers almost 200 wines on the menu and dishes with Hungarian influences.
Budapest, Sas u 3, 1051 Hungary
Onyx
©Onyx
Onyx, one of the most popular restaurants in the city. Chef Műhely presents a progressive Hungarian cuisine, based on the intertwining of art, science and gastronomy. All made with local ingredients.
Budapest, Vörösmarty tér 7-8, 1051 Hungary
Ideas for cultural outings
The Vasarely Museum
This museum in Budapest pays tribute to the Hungarian artist Victor Vasarely. The permanent exhibition is spread over four rooms on the ground and first floors. The artist's work is presented in chronological order - from his first school of drawing, through his training at the Hungarian Bauhaus and his pictorial development towards geometric abstract art, to his works of optical art based on the principles of Gestalt.
Vasarely Museum - Budapest, Szentlélek tér 6, 1033 Hungary
The Ludwig Museum
This contemporary art institution houses a collection of works from the 1960s to the present day, amassed from collectors around the world. From pop-art to conceptual art and ecology, the range of topics the museum covers is vast. Some of the temporary exhibitions are available online.
Ludiwg Museum — Budapest, Komor Marcell u. 1, 1095 Hungary
acb Galéria
Set on the banks of the Pest side of the river, this gallery is one of the most renowned in the city's arty district (7th district). Most (if not all, depending on the period) of the artists presented are Hungarian. Paintings, sculptures, visual arts: a large number of fields are showcased.
acb Galéria — Budapest, Király u. 76, 1068 Hungary
Várfok Gallery
Over the years, the gallery has grown and expanded its exhibition space. While the works of artists with a permanent connection to the gallery can be found here, other contemporary creators can also be discovered. Marvel at the incredible work of Françoise Gilot, several of whose paintings are on display.
Budapest, Várfok u. 11, 1012 Hungary
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