Budapest Property Investment – Apartments for sale in Budapest

Live like royalty in this full-service, state-of-the-art classical Hungarian palace!

Why invest in Palazzo Andrassy?

• 62 apartments
• Prices from € 407,000
• Low € 122,100 down payment
• Highest capital appreciation potential
• Life in a historical palace built in the Austro-Hungarian Empire
• Palace on the world-famous Andrássy Avenue, a UNESCO World Heritage Site
• In the centre of the diplomatic district of Budapest
• One-of-a-kind luxury interiors with high quality fixtures and fittings
• Expected handover Q4 2009
• Comfortable payment terms 30–70%
• Mortgage available up to 70% LTV
• Highest rental demand
• Luxury, 5-stars design and service
• 24-hours concierge services, swimming pool, hot tubs, sauna, fitness centre, conference halls, wine cellar, dining room
• Shops, cafés and shopping centres within a walking distance
• Parks, monuments, theatres, restaurants and cafes within walking distance
• Apartment sizes ranging from 57 sqm to 225 sqm (studios – duplex penthouses)
• Fully fitted apartments with highest quality materials
• Parking possibilities
• Easy connection to buses, trams, and the metro

Project developer - Otthon Centrum International Client Services View profile >> Address: 78 Lajos St, Budapest H-1036 | Office: +36 1 430 3120 • Fax +36 1 430 312 Call free 1 800 553 619 (Ireland) • 0 800 0513 759 (UK C&W) • 0 808 2347 680 (UK BT) 900 993 642 (Spain)

Featured highlights

Palazzo Andrássy is a new development of unmatched quality. It is a classical palace located on Budapest's Andrássy Boulevard. It is rare that 62 luxury homes of this calibre in such a spectacular location are open to the market. Andrassy Avenue is located in the heart of Budapest’s cultural and diplomatic district. This area is favoured by business people based in Budapest, managers of multinational corporations, embassies and large Hungarian companies. It assures good conditions of rental demand.

New within the old: turn-of-the-century architecture with 21st century interiors. It’s a castle-like building in state-of-the-art quality. Concierge-serviced apartments for the lovers of highest quality properties.

Units

• 62 apartments
• Luxury materials and services

History of the building

The impressive Andrássy Boulevard (1872-85) is a source of great pride for Hungarians not only because of the beauty of this wide, leaf-fringed street, but because the two-mile long avenue carries a rich history of Hungarian innovation and progressiveness. When the boulevard and metro first opened in 1896, the celebration drew thousands to the city to honour Hungary's 1000-year birthday. Today, Andrássy Avenue and the accompanying Millennium Underground Railway (1893–96) – continental Europe's first underground line, pulled by horses – have been christened UNESCO World Heritage sites. Tourists and locals can experience this pristine centrepiece of Hungarian history and innovation for years to come.

Millenium Underground Railway in Budapest

This impressive, eclectically styled palace, reminiscent of Tuscan architecture, surrounds the Kodály Circus forming a complete circle. The palace built for the Austro-Hungarian aristocracy in 1884 by a famous Hungarian craftsman Josef Kausner who later lived in the building himself. He was also involved in the construction of the St. Stephen’s Basilica and the Hungarian State Opera House.

Andrássy street, Kodály Circus and Heroe's Square

Andrássy Palace has two of the four building in the palace that encircles the elegant Kodaly Circus. Everyone lives like royalty here - in addition one-of-a-kind luxury interiors with high quality fixtures and fittings, the palace will have a large sun terrace overlooking the city and a World-Class fitness centre with a swimming pool. Andrássy Boulevard is Budapest's principle thoroughfare and diplomatic belt; this celebrated two-mile avenue and the Millennium Underground M1 metro that runs its length are UNESCO World Heritage Sites.

Project description and Services

Located on Andrássy út, Palazzo Andrássy is historical landmark originally built for the Austro-Hungarian aristocracy in 1884 by a famous Hungarian craftsman Josef Kausner, Andrássy Palace will occupy two of the four building that encircle the elegant Kodaly Circus in District 6. Today, it is a prime location for a residential palace and the development comprises of 62 interlinked luxury apartments.

The residences are unique, and the floor plans breathtaking. Andrássy Palace synthesizes quality and one-of-a-kind interiors with classical fixtures and modern fittings. Residences of this calibre - with the luxury design, prime location, and rich history - can be compared to the classical palaces on the 16th Arrondissement in Paris and the Ringstrasse in Vienna. It is a European masterpiece.

This is a truly special opportunity to own a home in a palace, prestigious location in Budapest for such reasonable prices. Investors are able to benefit from payment schedule in order to purchase: buyers only have to put down 30% of the total price with the balance due on completion.

At Andrássy Palace, everyone will feel like royalty. The reconstruction of the historic palace will restore the finesse and romantic qualities of the 19th century palace. Features include:

• 24-hour reception with full security
• Full-service concierge
• World-Class fitness centre with sauna, fitness room, swimming pool
• Private wine cellar
• Dining room
• Large sun terrace and garden with a panoramic view
• Secure underground parking
• Classical apartments with modern appliances

Download the free E-brochure of Palazzo Andrassy

Location

Andrássy Palace is located at the centre of Andrássy Avenue, on the Champs-Elysée of Budapest, within walking distance of the hustle and bustle of the city centre, yet sheltered by the trees and statues on the elegant Kodaly Circle. It is possible to walk, take a bus, or ride the Millennium metro to the central areas in Budapest, including the impressive Hero's Square, the City Park, the ballet institute, the Opera House and surrounding restaurants and cafes. Andrássy Palace is in a prestigious but accessible location in Budapest.

Pricing and payment schedule

Prices are competitive when you are buying a spot in a palace; keep in mind the residences offer great opportunities for rental income through short-term or long-term rentals.
Prices from € 407,000 to € 1,650,000.

Note: Mortgages now available to foreigner investors max. up to 80%.

Reserve your investment of the year with € 3,000 down! Put only 30% down when signing the contract and then the final 70% will be due upon completion of the Palace in Q4, 2009.

Otthon Centrum ICS can assist interested foreign investors with acquiring a mortgage of up to 70–80% of the asking price.

Investment return

Sample floor plans

Coming soon...