Country Estate for Sale in Budapest, Peste Megye, Hungary

Unique Prestige Equestrian Estate

Unique and truly stunning country property set in 1.2 Hectares (3 acres) of landscaped gardens surrounded by beautiful mature woodland. The property comprises of three houses: the main house, the guest house and the stable house. The total floor area is 470 sq metres with an additional 200 sq metres of garages, usable loft space and cellar. The property has its own 41 metre deep water supply as well as a swimming pool.

A comprehensive selection of photos can be found using the Photobucket link displayed in contact details below. A REVISED SELECTION OF PHOTOS HAS BEEN ADDED COVERING 24 OF THE PROPERTIES' 29 ROOMS.

This property was selected by the editor of A Place in the Sun magazine to be the featured private listing property of the month last November. It obviously stood out among the many property details to pass through his hands.

The property itself is in good decorative order and benefits from new gas central heating, under floor heating and double glazing throughout. Both the main and the guest house also have new roofs.

There are detailed architect’s plans and previous planning permissions for a fourth building – a retirement home - of approximately 200 sq metres if needed.

The property is in a protected no build forest area just over a mile from the M5 (E60) international motorway. The surrounding forestry land is privately owned so it may be possible to buy more land to enlarge the estate.

Central Budapest is approx 40 mins away and Ferihegy International Airport is under 30 mins door to door. The Tesco superstore which is due to be completed this summer in Dabas will be 15 mins away.

The nearest thermal water health spa is in Cegled which is 15kms away. Lake Balaton with its many facilities (beaches, wine tasting, etc.) is 120kms away.

Although the property is currently used as a private residence it would be suitable for a number of commercial uses including:

An equestrian hotel/pension. There is ample rich grazing land together with winter stabling in the stable house. There are many unmade roads and paths around the property for horse riding. It is possible to get to the very heart of Hungary –Pustavacs – without using roads. A number of the neighbours own horses and the local vet is very good (and speaks English!)

An autosport/motorcycle hotel (less than 2kms from the EuroRing race track). “Hungary's youngest racing track, EURO-RING, opened its gates on 26th September 2004. This inauguration was expected by drivers from different disciplines, since the tracks design allows it to host not only car but also motorbike and karting races.
The main track has a length of 2300 meters and width between 10 and 12 meters. The inner part of the track offers a big variety of traces for karting, so the race organisers can choose between 6-8 different tracks.
EURO-RING was designed in concordance with the FIA and CIK rules and is suitable to host European and World Championship events. After completion of the service buildings, Euro-Ring will be the track with the highest standards of services in Hungary.”

There is also a Quad bike track 500 metres from the main racetrack.

A retirement home/medical/beautician/dental facility: the tranquil and beautiful surroundings are perfect for rest, relaxation and/or recuperation. Due to low labour costs, medical, beautician and dental costs are a fraction of comparable services in the UK and in most cases at least as good. (There is a substantial and developing market in dental treatment breaks in Hungary). Proximity to the M5 makes access to Budapest quick and easy. There is also ample space for a helipad.

A children’s summer camp/exclusive nursery/educational facility: lots of space for outside activities, walks, wildlife viewing, on site camping, etc.



THE PROPERTY MARKET IN HUNGARY

The property market increased by 6.2% last year with a forecast of 5.00-6.00% this year. This increase is fuelled by wage levels and not by uncontrolled lending as in the US and the UK (Spain, Portugal, etc, by extension). Hungary is due to adopt the Euro in 2012 and this may also result in a 10-15% increase over and above the steady growth at present (this has been the case with previous countries adopting the Euro). Overall the market is moving up and not down as with Western Europe.

Generally speaking the property has excellent investment potential:
‘Since joining the EU in 2004, Hungary has evolved into one of the wealthiest and most stable economies in central Europe. On a commercial level, 45 of the world’s 50 largest multi-national firms now have a presence there, principally in Budapest which they treat as their continental headquarters. An estimated 75,000 foreigners now live in the city with a further 25,000 living elsewhere in the country.
Tourism is also bringing more visitors to Hungary, which boasts a rich culture, fantastic architecture and beautiful landscape. In the first half of 2006, the country saw a 17 per cent increase in tourism, and revenue generated from tourism is predicted to more than double over the next five years.

The net result is a bullish property market’. Source: A Place in the Sun website (2008)




CE Invest Newsletter
March 31, 2008
The Effects of the Credit Crunch
We have had a number of inquiries regarding the adverse effects of the downturn of the money markets in Western Europe. Here are some quick notes to show how the whole region of Central Eastern Europe (CEE) is going up and not down. Since August, 2007, the sub-prime crisis has actually had an opposite effect in CEE (so far).

What happens to a bank if it can't borrow? It stops lending. If banks don't lend, the whole economy shuts down. Well, this is not what is happening in CEE.

While the banks are tightening the approval process in the West, last year Hungarian banks have loosened the conditions for mortgage applications. Financial experts agree this trend will continue in 2008.

The structural reforms, FDI - EU funds enriching these economies, the constant economic growth, the low labour costs and rapidly expanding industrial zones all bring stability. The economic growth in CEE is twice that of the UK, income per capita is a quarter of the UK. The property market is fuelled not by tourists but locals - people need a place to live, they are earning more money, mortgages are available. The purchasing power is rising, 10% growth in salaries last year in most CEE countries. The degree of education is relatively high in CEE, as opposed to China and Latin America. This is the production place for manufactured goods which are heavy - furniture, cars, steel - this will always be the advantage of CEE. Additionally. CEE has good relations with rising economic regions, China, India, Middle East, South America.
The rising economic growth, increasing FDI, rising personal incomes, the increasing availability of mortgages coupled with low interest rates, as well as the low property transaction costs, make Central and Eastern Europe an especially interesting region for investors looking for excellent opportunities.

PROPERTY DETAILS:

Main House:

Ground Floor: Living room, dining room, kitchen, two double bedrooms bathroom and separate toilet.
First Floor: Hall and landing area, six double bedrooms, one single bedroom, two bathrooms en suite and two further separate bathrooms (All bathrooms are tile
Second Floor: Huge loft area (over 100sq metres) suitable for use as play room.

Guest House:

Ground Floor: Originally laid out as a gym and sauna. Currently set up as living area, shower room, storage room (sauna area opposite the shower room) and a separate toilet. Attached to ground floor is a separate boiler room/drying room. Next to this is a three car garage.

First Floor: Self contained flat with kitchen, living area with huge window overlooking formal lawn and garden, bedroom with en suite bathroom.

Stable House:

Ground Floor: Kitchen, dining room, two bedrooms, fully tiled bathroom and separate 3 horse stable area or substantial storage area.
First Floor: partially floored but incomplete with detailed plans for a further 4 bedrooms.

Fourth Building (potentially):

Detailed plans and lapsed planning permission for a 12 bedroom residence. Renewing the planning permission should not represent any problems. The original design was for a retirement home but this could be adapted to a number of other purposes.

Garden:

Total area: 12,200 sq metres (approx 3 acres)
Formal lawn and swimming pool area approx 500 sq metres bordered by white picket fence.
Swimming pool 7m x 3.9 m and adjoining toddler pool.
Formal garden extensively stocked with mature ornamental shrubs and flowers.
Over 100 mature trees including including walnut, various evergreens, beech, silver birch, plum and acacia.
Outside kitchen and barbeque area with cooker, smoker and pizza oven and bench seating for 12 -14 people.
Small landscaped lake with water feed from pool area (lake currently needs relining)
Climbing frames, swings and seesaw.
Sandpit
Outside cellar (28.5 sq metres) with electricity.
Substantial front double gate and walled entrance.
Garage: 58.5 Sq metres or three cars.
Adjoining wood storage area 12 sq metres.
Boiler and drying room.
Garden watering system with 9 stand taps appropriately placed to serve the whole area.
There is a further 5,000sq metre adjoining paddock and outside stable available from a neighbour.

SERVICES

Electricity:
Mains electricity 220V
And
380V industrial supply
is connected if needed

Water:
41 metre deep bore hole supplying mineral rich pure water

Gas:
Calor gas: 2 x 4,780 litre tanks
Sewage: Each house has its own septic tank.

HEATING:

Mixed: gas, electricity and wood.
New boiler: Saunier Duval gas fired boiler feeding under floor and radiator heating as well as providing hot water as back up for electric boilers.

Main house:
Perla 200 litres electric immersion heater.
Kitchen/living room has large 14 Kw French wood burning stove.
Guest house:
Hajdu 120 litres electric immersion heater. Living area has 7 Kw woodburning stove.
Stable house:
Currently using electric oil filled radiators and bedrooms and Mini Aga style woodburning oven/heater in the kitchen.

SECURITY

Entire property fenced with barbed wire edging.
Dedicated security guard/alarm system: door/window/movement sensors. System fully zoned for selective activation. 7 minute guaranteed call out response (a cat set the alarm off last year and it took 4 mins for the dedicated security guard to arrive!)The system is linked by GSM to local police station.
CCTV system

LOCAL AMENTITIES

Currently the nearest Tesco superstore is Soroksar which is 20mins away or there is another Tesco at Keckesmet which is 25 mins away so there is no need to go without anything you would normally have at home (labeled in English too!). When the Dabas Tesco opens later this summer it will be less than 15 mins away.
Local shops within 7 mins drive in the village
Doctor’s surgery and chemist again 7 mins away in either local village.
The nearest hospital is Dabas which is 15 mins away.
Local horse riding is in Pustavacs which is 3 miles away if you are not prepared to keep your own horses. There are miles of quiet bridal ways without having to go near to a public road.
The property is surrounded by beautiful forest with plentiful deer, pheasant, hare, etc. Deer hunting is also available.
Bird life is superb with many different species in the grounds themselves.

REASON FOR SALE:

We don’t have the time to develop the property to its full potential and won’t have for the foreseeable future. It would be relatively inexpensive (skilled labour costs around 20 pounds per day) to add a tennis court, extend and develop the lake, to fit out the gym/sauna area, provide more stabling, etc. In fact there is scope for a real fantasy property provided you have the time, money and energy to create it. Significantly this would be at a fraction of the cost of an equivalent property in Western Europe.
To reiterate, this property is
1.) 30 mins from a major international airport
2.) 40 mins from a major European city
3.) In an area which is experiencing consistent economic growth with an excellent medium to long term growth potential.
Commitments in London are forcing this sale. We are highly motivated sellers and this is reflected in the price. Anyone who has done some research into this type of property will recognize that this property at this price represents an extremely good purchase.
Offers in region of 225,000 euros.