Jokai utca 1

Budapest, Jókai u. 1, 1066 Hungary
Price: 155.000 €
SOLD
View map
Bedroom: 1 Room(s)
Acreage: 34m2
Elevator: Yes
Toilet: 1.5 Room(s)
Profit rate: 6%
Nearby amenities: Public transportation, Hospitals, Supermarkets
View: Street view
Floor: G

DESCRIBE:

Uniquely designed 1 bedroom apartment, located on the ground floor of a historic building at Jókai utca 1, in one of the most sought-after areas of Budapest. Currently undergoing renovation, this apartment offers a rare opportunity to own a stylish and comfortable living space in a prime location.

The apartment has a total usable area of ​​60 square meters, although the certificate of ownership only states 34 square meters. The clever use of space with a mezzanine significantly increases the living area, maximizing every square meter. The apartment has 1 mezzanine bedroom, 1 bathroom & 1 separate toilet. In addition, the building has two entrances, one from Jókai utca and one from Aradi utca, enhancing accessibility and convenience.

The property is located right next to Teréz krt., one of Budapest’s main avenues. In addition, the apartment is close to Oktogon, one of the city’s most important squares, placing the apartment at the heart of Budapest’s bustling urban life. This location is ideal for both locals and visitors, making it very attractive for short-term rentals or as a central living space. The surrounding area is full of cafes, restaurants, and boutiques, especially along Teréz krt. and nearby Andrássy Avenue. This diversity brings convenience and lifestyle amenities, making the area very livable for residents and visitors. Local markets and grocery stores are also easily accessible, ensuring all daily needs are met within a short walking distance.

FACILITIES

  • Air Conditoner
  • Heating system
  • Fire alarm system
  • Dishwasher
  • Washing machine
  • Fridge

Mr. Chris Nagy

CONTACT

    DISTRICT 6 - TERÉZVÁROS

    Budapest’s 6th district, commonly known as Terézváros, is a unique blend of old-world charm and modern prosperity. With its diverse Belle Époque architecture and historic buildings, the district is the cultural and historical hub of the city. Surrounded by famous landmarks such as the Basilica di Santo Stefano, an exquisite religious building, and Andrássy Avenue, a UNESCO-recognized fashion street, Terézváros welcomes a large number of tourists every year to visit its Hungarian fashion stores, restaurants, and art scene.

    TIỆN ÍCH

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    FAQ

    Can I buy multiple Properties?

    There are no regulations in the country limiting the amount of real estate an individual can own. All properties are resold, but to maintain a green card, the customer must still own (multiple) properties with a total value of at least 175,000 euros.

    Can I own real estate forever?

    The real estate that investors buy after being granted a certificate of ownership will be owned permanently and have the right to transfer it as an inheritance.

    What are the annual taxes to be paid when owning Real Estate?

    The owner will only have to pay one tax when owning the property. Land tax will be calculated according to the formula: 3000 Forint * Total area of ​​the apartment on the house title. (This fee may vary depending on the area of ​​the property) This tax will be notified to customers by True Estate when it is due and support for annual tax payment.

    Do apartments need a business license if rented short term?

    – Regarding the procedures for preparing business documents, investors need to note the following points:

    + The conditions for apartments in a building to be operated as short-term rentals will be decided by the competent authority of that District. For apartments in central districts such as District V, VI, VII, the quota has almost been exhausted. Therefore, the ownership of real estate that can be rented short-term in these districts is increasingly limited.

    + If the real estate is located in a building that is granted short-term business rights, the apartment must ensure the operating standards set by the Hungarian Department of Tourism. This agency will send an authorized person to directly evaluate to rank and grant a business license for the apartment (from 1 to 4 stars)

    – Compared to other countries, regulations in Hungary are quite complicated and require experience. True Estate is confident that the apartments we introduce to investors all satisfy business conditions, some apartments are already in operation and have been rated 4 stars. In addition, in the shopping cart there are still apartments that are not in the form of short-term business, suitable for individuals to invest for vacation and living.

    How fast is housing value growth in Hungary?

    – According to statistics from Moody’s, the residential real estate market index in Hungary increased 1.5 times from 357.7 in Q2 2020 to 525.19 this year and will continue to grow due to the country’s open foreign investment policy.

    – This figure is quite impressive as Hungary ranks 2nd in terms of real estate price increase in Europe (after Estonia).

    Real estate management process at True Estate

    Real estate renovation design process at True Estate

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