June 29th, 2012

Number of hotels, pensions on market rises as buyers stay away and building continues


The number of hotels, pensions and other “catering units” for sale in Hungary has continued to rise this year as prospective buyers stay away from the the tourism industry, napi.hu reports, citing data by real estate agency Korrekt-Max Immo. This despite the fact that prices for such properties have fallen by as much as 50% over the past two years.

According to the piece, small family hotels go for as low as HUF 150 million but larger three-star hotels with up to 50 room are also up for sale for less than HUF 1 billion.

And while some Arab and Greek investors have been spotted looking for properties in frequented areas, other potential buyers are far and few between.

  • wolfi

    Even here in and around Héviz (the no 1 tourist spot in Hungary) there are many hotels and restaurants that have stood empty for several years.

    The “Hungaria Etterem” in the best central location in Héviz is an extreme example – it was cleared so fast that they left large plants in their pots that have been wilting away for two years now and the floor tiles are broken, nobody opened the doors in the that time, not even for a look …

    And also several “shopping centers” are almost empty husks …

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