property news

Published: 25-06-2008
Property Wire

Budapest, the capital of Hungary, is in the middle of Europe's biggest makeover, providing unique opportunities for overseas investors.

Budapest, the capital of Hungary, is in the middle of Europe's biggest makeover, providing unique opportunities for overseas investors.

District VIII also known as Józsefváros (Joseph's Town) which has largely been untouched for a hundred years is tipped as the kind of olde-world bohemian area that will be the in-place for young people.

The centrally located area is crammed with small apartments, many of which have no indoor toilets and fell into decline at the height of the Communist years. But now they have the potential to become bijou pied-a-terres.

The centrepiece of the regeneration will be the widest pedestrian street in the city connecting up with Orczy Park, one of the largest gardens in Budapest with over 100 species of trees.

'This district was well known as a slum. Investors who participate early in this ground-breaking urban rehabilitation will be rewarded in years to come as District VIII is put back on the map, but this time for the right reasons,' said Adam Godwin, of Dream Homes WorldWide .

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