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Budapest residential property market kept afloat by “alternative hostels”

Posted on 10 August 2010

From Realdeal.hu: While property prices in Budapest are slumping, in some cases to the extent that some properties in downtown are now going for only half of what they used to, this has led to a boom in room rentals or “alternative hostels”, index.hu reports by way of napi.hu.
According to Balázs Nagy, the advisor-owner of Palace real estate, long gone are the days of buying run-down property that is then renovated and sold for a profit……………………………………….Full Article: Source

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