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As wealth increases the demand for luxury real estate is on the up, as increasing numbers of Hungarian entrepreneurs and top managers seek luxury properties. Market analysts expect prices in this bracket to mimic Paris and New York in the near future especially as people move back into the city as downtown Budapest gets a facelift.
The widespread property development trend of Mill Conversions in the UK has spread to Hungary. The latest development to hit the Budapest real estate market is Mill Lofts, a conversion of a landmark building, the former Gizella Malom (Gizella Flour Mill) is being converted into luxury loft-style apartments. Located in the 9th district puts you right in the heart of Budapest and short walk from everything you need, public transport, motorways, airport and major city attractions. A unique living concept in Budapest, these 104 flexible loft spaces will different, individual living solutions. Apart from the location of the bathrooms and kitchens, purchasers may choose their layout nearly freely. The Mill conversion aims to preserve the industrial feel and character of the premises as a whole combined with a luxury quality specification.
