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News: Budapest boost for UK investors

Mon, 13 Aug 07

Investing in Hungary just became a whole lot easier...

Ryanair has announced two more connections to Budapest from Liverpool and Glasgow. From 31st October 2007, Ryanair will operate up to four flights every week from these UK destinations.

The new announcement takes the number of Ryanair’s budget routes to and from Budapest to five: East Midlands, Bristol, Bremen and now Liverpool and Glasgow.

Ryanair flies into Ferihegy International Airport, located in District 18, 16km south east of the city centre and is connected by the M0 motorway. It serves 8.3 million passengers each year and a €261 million development plan for terminals 1 and 2 has been recently unveiled.

Focus on the suburbs

There are plans for an ambitious ‘airport city’ with hotel and conference facilities, car parking, and a business and trade park.

Property investors have been drawn to the areas surrounding the airport to enjoy both capital gain as well as rental income from those who work at Ferihegy and the surrounding business parks.

Caroline Hollingworth, of UK-based overseas property specialists Hollingworth & Associates, comments: “The focus for property investors is now clearly on the suburbs.

“Property prices are rising at around 15-20% per annum, and driven by local direct investment, rather than by foreigners, while rental yields are achieving on average between 6-8%. This figure is expected to improve as the areas develop.”

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