First and foremost – Hungary gained EU membership in 2004, which has caused growth in the economy (4.1 percent in the last year) and a reduction in interest rates. All of these factors mean it is now an ideal time to invest in off plan property. With the country poised to adopt the Euro as it’s currency come 2010 there is a near-guarantee that the economy will do nothing but get healthier, and interest rates will fall in line with other European countries, which more often that not causes a stimulation of the property market and sees property prices rising. Hungary is also a country ever more popular with tourists and ex-pats, and this is another area that is good for a strong, growing economy. Hungary was popular with second-home owners long before EU membership, and the accession is bound to cause this trend to increase, stimulating property value to increase even more than it already has.

Budapest is the obvious choice for the most popular area, with the old side of the town, Buda, offering a more artistic and historic experience for any visitors as well as growth in property values thanks to this popularity. The new side of town, Pest, offers the commercial side of things and a more forward-looking attitude that is popular with all ages of traveller and local. Property prices in Budapest are still relatively low, though maybe not as low as in other emerging markets thanks to the popularity of the country before EU membership was attained – having said that, the prices are sure to rise over the coming years with funding from the EU coming in and economic restructuring of the country causing changes in the markets.

With a relatively young and growing economy, ever-increasing popularity with the tourist trade, new avenues to explore through EU membership and a genuinely beautiful country, Hungary looks set to be one of the main success stories for off plan investors who get in early enough – which is right now!