Hungary became a full member of the EU on May 1st 2004. Its capital city Budapest, is the centre of the country geographically, politically, economically and architecturally. The property market in Budapest had seen a rapid increase in prices over the past 10 years but now and over the last 3 years, this growth has dipped and cooled off. Prices are down in the region of 20% – 30% from their peak generally speaking. The rental income is down from where it was but still relatively strong and can still generate in the region of 7% gross and occasionally more on some properties. With the fall off in capital growth and the rents reducing, a lot of overseas investors are now looking at exiting the Hungarian market. The local market is still active as will be the case with most capital cities, but buyers are very thin on the ground. Extra Sales can provide exposure to the Russian market to property owners in Budapest. Faced with the rising costs of living and property in their home country, most notably Moscow, many Russians are now scouring Europe for locations where they can buy an affordable and comfortable investment. Below is in indication on price differential per square metre for city centre apartments in the two different countries. If you own a property in Hungary and would like us to assess the potential of selling it into the Russian market, please contact us or register your property online.