Budapest to Sell Dozens of City Properties to Raise Billions

  • 12 Apr 2023 10:48 AM
  • Hungary Around the Clock
Budapest to Sell Dozens of City Properties to Raise Billions
The city of Budapest plans to sell 61 properties with the goal of raising Ft 18 billion, Népszava reports.

The properties include villas in the Second District, schools in the Fourth, Ninth and 11th Districts, the shooting range in the Tenth District and a former culture centre in the 19th District.

In justifying the decision, Budapest deputy mayor Ambrus Kiss said none of the buildings are in use. If there was money to renovate them, they could be put to good use but at present they are only an expense, he added.

Kiss said the city will spend the proceeds from the sales on operating public services.

Photo for illustration purposes only

  • 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’.

  • Mega Real-Estate Deal Planned at Budapest's Largest Train Stations

    Mega Real-Estate Deal Planned at Budapest's Largest Train Stations

    • 10 Dec 2024 6:16 AM

    A mega real estate deal is being planned whereby the landholdings of Budapest's four major train stations would be leased out for 99 years and developers would be able to commercialise the stations and their surroundings "for free", David Vitezy, the leader of the Podmaniczky Movement in the city assembly, has said.

  • Nearly 3 Million Hungarians Live in Housing Poverty

    Nearly 3 Million Hungarians Live in Housing Poverty

    • 22 Nov 2024 11:21 AM

    Some 2.8 million Hungarians are living in housing with at least one of the four standard indicators of housing poverty, the organisation Habitat for Humanity said in its housing report released.

Enjoy more

property CHANNEL SPONSOR

Newsletter

get in & enjoy more!

XpatLoop’s newsletter contains a hand-picked selection of fresh news, special invitations, events, movies, and more.

I understand & accept the Privacy Policy