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Budapest offers long-term rental returns

Industry experts have earmarked Budapest as a great spot for investment in overseas property, thanks to the amount of business capital injected into the city.

With more western European companies choosing to capitalise on the skilled workforces and low labour costs widely available in eastern Europe, emerging property markets such as that in Hungary are receiving a significant boost.

According to Simon Walker, sales director of Offplan International, Hungary - and especially Budapest - is an ideal investment destination for both first-time buyers and seasoned investors.

"Budapest is a key area. A lot of peopleâ¦[looking] for investment now in overseas property are looking in capitals, rather than the standard looking for holiday homes. They look at cities as an area where you're more likely to get long-term rental, say from local businesses or international businesses that are setting up there, rather than depending on holiday rentals [in] which you're limited," he said.

Mr Walker said that purchasing a holiday home could curb the amount of rental income available: "You may get more money in a shorter period, but the percentage of the months that you are actually renting your property out for could be a lot less than it would be in a city environment."

He added that property prices were sure to increase, due to both the influx of business capital and because of first-time buyers being priced out of the market in the UK and looking further afield.

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