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Hungary IS the next boom location ...... the big players are coming!03/13/2008
UK based Benson Elliot Capital Management, the leading private equity real estate firm has acquired a 60% stake in Karolyi Istvan City Centre, one of the most significant residential-led developments in Budapest.
The value of the completed development is expected to exceed €220 million. The investment marks a significant vote of confidence for future capital growth in Budapest. The capital city is the economic powerhouse of Hungary where there is a shortage of apartments and high rental demand. Heavy investment in infrastructure and public services has improved the standard of living in Budapest with €25 billion in EU finance approved for investment over the next 6 years. With many large multi-national companies locating in Budapest there is strong projected economic growth predicted, all of which shows encouraging signs for the property market.
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