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SOME USEFUL TIPS: BUDAPEST, WHY INVEST?
• Of the 10 countries joining the EU on 1 May 2004, Hungary has proved to be the most dynamic, with one of the most stable and wealthy economies in Europe. • 20% of Hungary’s population resides in Budapest which generates 60% of Hungary’s GDP. • More than 45 of the 50 largest Blue Chip multinationals have already established their European hubs in Budapest. • A shortage of hi-spec new-build accommodation in the city centre (where much of the residential accommodation is in need of renovation) has resulted in a captive rental market driven by increasingly affluent citizens and foreign employees. • Budapest is an increasingly popular year-round city break destination due to its enviable climate, rich cultural heritage, wide-ranging cosmopolitan appeal and world-class transport infrastructure. • Already served by budget airlines such as Easyjet, Wizz Air and British Midland (in addition to scheduled flights by British Airways and Malev), BAA’s successful 2006 bid for a 75% share of Budapest’s Ferihegy Airport signals the way for further expansion and modernisation making Budapest a future mainstream hub for flights throughout Europe and beyond. • Budapest property prices are significantly undervalued, with year-on-year prices rising by between 10 and 20% since 2004. • Predicted to be Europe’s logistic centre of the future, Hungary’s 16% corporation tax is one of the lowest rates in the EU.
source: www.vivaestates.com
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