European Parking

High profitability of a real estate investment within the market of parking in Budapest due to the historical background and the original urban layout of Budapest, currently there is a shortage in the supply of garages. This shortage occurred since not originally established the need for a vehicle, reason why the design of Budapest not contemplated spaces for parking. For some years, have a car has become a real necessity. Consequently has been increasing strongly demand for purchase or lease ownership of properties that have garage. There are numerous indications within the real estate market of Budapest, which allow to visualize an excellent perspective for those who make a real estate investment in garages or parking spaces.

One of the most recent regulatory amendments, on the one hand, establishes as mandatory requirement the incorporation of a parking place per each new floor that is built in Budapest. On the other hand, Hungary has been doing considerable investments in order to expand its transport network and improve its road infrastructure. In this sense, it is important to note that seven of the eight most important highways of Hungary, are started in Budapest and are connected with other roads that communicate with the rest of the European continent. A large increase in automobile traffic in Budapest, caused both by the inhabitants of the city who have a vehicle and by persons of foreign origin who settle temporarily for business or work is estimated for the coming years. For this reason, all property that has garage, will be much more repossess and defendant regarding a property that does not have parking.

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