Kategora completed in August the reform of the building that will house a student residence and apartment in downtown Budapest.
Source: El Mundo
In total, the building will house 51 apartments from € 67,000 to be launched in the rent. The Basque company seeks now, Spanish investors who acquire the property.
The company Kategora from Bilbao specializes in the management of real estate in Eastern Europe, scheduled for completion in July, the remodeling of a building in the center of Budapest (Hungary) will serve to accommodate college students.
The establishment will be the first university residence in the heart of the capital will Magyar and the main amenities and services. Moreover, during the summer period will be used in apartment scheme to harness the boom in tourism in the city, as reported by the company in a statement. The building, located near the Faculty of Medicine, Semmelweis University, will feature 51 apartments designed to accommodate foreign university students from September this year, when you start the academic year.
The managing director of Kategora, Kepa Apraiz has indicated that the residence can offer a solution to the “serious” problem of housing for these people and at the same time, “providing a guaranteed annual return investors who have trusted our property advice / financial performance far superior to that obtained with similar assets in Spain ”
The 51 apartments can be bought by Spanish investors from 67,000 euros and can be rented from 400 euros per month.
The investment objective is to exploit the apartments rented for five years so that the investor obtains in this way 25% of their investment in this period. Additionally, as explained Kategora, is meant in this period an additional 25% return on the sale of assets, thanks to the “expected” increase in house prices in the area.
The Basque company with five years of experience in integrated management of real estate, currently manages a portfolio of over 600 real estate assets in Eastern Europe for 300 clients, as well as two apartments in operation.
I´m going!
The Kategora complex in downtown Budapest is a nice place to stay in, with students from different schools with different schedules there is always someone around and it’s easy to make new friends. The management is very helpful with all the different “problems” that may occur. It was quite hard to get the right documents for the visa application new students have to make, but I blame that on the new organization and I think that they have made a procedure for this now. For those who are thinking about moving here, I say go for it. You will not be disappointed! We might even be neighbors because I’m staying for sure.