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The Budapest, Hungary Problem - a preview
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As anyone familiar with Property Secrets knows we don't believe everything that glitters is gold!
Budapest - a shinning gem of a city - certainly glitters - but is it gold?
To avoid being seduced with wonderous pictures of the city - let me show you what has happened to the currency in the past 12 months.
As you can see - the Florint has risen sharply against the Euro. This is the opposite of what we predicted because the economy has had too much debt (a bit like the US) and this is the invese of the normal (but often delayed) result.
This means buying property in Hungary has got 10% more expensive (and anyone sell in Hungarian Florints and converting back to Euros will receive an extra 10% bonus on the property price).
Interestingly, Hungarian interest rates are coming down (slowly) and Euro rates go up (as one economy is weak and the other strong).
My question for today is -
... does this mean that Hungary now got its economy in order? If so, then, may be now would be a good time to invest - if not, then it will be wait and see!
I'm surprised by this currency graph and suspect it will be 'good progress - time to take a closer look...'
(Possibly like the south of Germany?)
Cheers
Neil
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POSTED BY
NEIL LEWIS
ON
MON 23RD JULY
AT
07:44 GMT
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TAGS:
Property Investment, Hungary Property, Germany Property, Budapest Property, Budapest Property
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 Neil Lewis, CEO and founder of Property Secrets, is an experienced property investor in his own right and author of two highly successful property investment books, Buy To Let Secrets and Property Developer Secrets.
Neil owns property in the UK, Spain, Poland, Romania and the Czech and Slovak Republics. He is a regular columnist for Property Week magazine and has been quoted in a number of UK and European broadsheet newspapers and magazines.
A regular speaker at property investment events, Neil has appeared at CEPIF in Warsaw and the Property Investor Show and the Homebuyer Show, both in London.
His business background is from publishing to a wide range of industries such as Finance, Music, Travel, Economics and Politics before setting up Property Secrets seven years ago. Neil studied Philosophy and speaks German, Spanish and a lot of English.
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