The competition in the housing market between investors, builders and financiers for exploiting good opportunities is intensifying. Prices do not compete, as interest rates have fallen to such an extent that no further decline is expected in this area. Rather, you can take advantage of additional special opportunities to win projects and customer trust!
The real estate market in Budapest is expected to expand significantly over the next 6 months, with thousands of newly built homes on offer.
Those looking for special constructions and state-sponsored qualifying discounted home loans are very lively investors and lenders!
Raising the attention of potential customers may seem easy, but you need to inquire about the project’s parameters if construction does not start on time, we have lost our opportunity over time, or even down payment if construction goes down!
Not only do we have to make an informed decision if we have a good price, we also need to know the constructor and the time of construction, because in order to make our home purchase smooth, we have to consider all the options!
Attention must be paid to the warning signs when building a residential complex:
- according to which the investment will be smaller than originally accepted,
- 6 month slips are common at the start,
- significantly increased building material prices,
- less knowledgeable professionals due to limited contractor capacity
There are many examples both in Budapest and in the country that the developments do not start or the investment stops due to lack of material, money and specialists.
Most of all, we are the biggest losers of this, especially those who have paid upfront for the home construction that has not yet begun, and after months of waiting to build their home!
What to see as a customer
- Who is the investor
- What permissions the investment has
An example is the largest development currently under construction on the Pest side, the IX. district Allure Residence Budapest (534 apartments).
Each phase has a final building permit, and the investor is trustworthy and secure, so the first two houses of the construction schedule are being built. At the same time, earthworks and garages for other scheduled buildings are being built.
This construction is characterized by a thoughtful, thoughtful schedule!
- First Stage All apartments in Building A have been sold with a May 2018 handover!
- The second phase sold a significant number of apartments, only a few vacant
- More than 70% of Phase 3 homes already have buyers,
- 20% of Phase 4 found a master.
Continuous, balanced construction, well-thought out and well-located floor plans, and a good choice of neighborhoods give your investor confidence, which is worth more than a good price!
If you do not see the bank’s prospect of realization then you will rather not lend
According to the expert: “The bank’s preference here is also for the experienced developer who knows how to manage the construction safely, to execute it and to handle any crisis situation well”
If you are interested in home loans, CSOKs, consumer-friendly loans, or even loan replacement options, consult our credit brokerage experts for free professional mortgage information!