Budapest's Fifth District Bypassed Rules In 16 Property Deals Worth HUF 2 Billion

  • 1 Mar 2021 11:36 AM
  • Hungary Around the Clock
Budapest's Fifth District Bypassed Rules In 16 Property Deals Worth HUF 2 Billion
The Fifth District Fidesz-run local council plans to sell or has sold properties without giving the city of Budapest the opportunity to exercise its pre-emptive right to buy the properties, according to a February 22 letter written by mayor Gergely Karácsony and obtained by Telex.

Telex reported in November that the Fifth District council had launched – in principle – an international and open single-round tender for selling 16 properties worth a combined Ft 2 billion.

The opposition council members proposed at the time of the announcement of the tender that the sale should be announced publicly but the district’s Fidesz leadership did not agree.

Fidesz mayor Péter Szentgyörgyvölgyi unilaterally decided who won the tenders, utilising powers granted to him during the state of emergency and announced the results later.

He proposed the sale of the more valuable properties, and declared the tender invalid for less valuable properties.

Although the properties have been sold, Karácsony can still stop the deals, Telex writes.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports