Attracted by the prospect of a 7-8% yield on investments, British investors have over the past years turned to the Hungarian real estate market with keen interest, László Kovács told the paper.

The total volume of real estate transactions dropped in London by 47% to 6.7 billion euros during the first three months of the year, compared with the same period in 2015.

The decline during the period was 43% for the whole of the United Kingdom, he said.

Republished with permission of Hungary Matters, MTI’s daily newsletter.