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The former Hotel Budapest, a cylindrical high-rise in the leafy Buda part of the capital, will soon be demolished and rebuilt as a residential building, Market Asset Management said.
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Take-up on the Budapest office property market reached 119,975sqm in the second quarter quarter, falling 16pc from the same period a year earlier, a report released by the Budapest Research Forum (BRF) shows.
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The government has approved a 3pc home purchase credit programme for first-time buyers, Prime Minister Viktor Orban said during a break at a cabinet meeting.
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Home owners filed claims with their insurers to cover over HUF 7.5bn of damages caused by severe storms early in the week, the Association of Hungarian Insurance Companies (MABISZ) said.
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Home prices in Hungary rose 14pc year-on-year in June, listings site Ingatlan.com said.
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After a surge at the beginning of the year, demand for homes in Hungary slowed in June, but supply continued to grow, giving buyers the upper hand, real estate broker Ingatlan.com said in a report.
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