Burgeoning Budapest Awaits Its Largest Development In 30 Years

Bohemian Budapest may well be the new Williamsburg at a fraction of the cost.

By Jeff Vasishta January 26, 2017

If your image of Eastern European cities is a little grim—cobbled streets, crumbling historic buildings and impoverished citizens—then you have obviously never been to Hungary’s Budapest. Like a Petri dish left in an equatorial rainforest, the place is swarming with new things. Sparkling modern buildings, restored old ones and now the largest urban development the place has seen in 30 years.

Budapart is the neighborhood getting the make over—around 55 soccer fields worth (54 Hectares) of mixed used space, buildings big and small. it is constructed on the picturesque banks on the Danube River. Developers and architects have taken pains to create a master plan that is both eco-friendly and scaled to the surrounding neighborhood instead of simply tagged on to the riverfront as a boxy, shiny new development.

RelatedPriced Out Of Brooklyn, Local Artists Are Flocking To Berlin

Part of the charm for Budapart is the irregular and historic quality of the city with a rigid urban grid, creating a design that, according to the press release, combines flexibility with a human-scale streetscape. Green and office space along with residential abodes in equal measure, are all part of the plan in a city which is betting big on its future, developing neighborhoods while embracing its war-torn past.

A storied history is the idea behind the renovation of some of the most treasured buildings. Eagerly anticipated is complete renovation of the Buda Castle. Within the framework of the Hauszmann Plan is the reconstruction of several other buildings—damaged and demolished in World War II. Other striking structures currently being painstakingly remodeled include the for Csikos Court and the Danube shoreline itself, with pedestrian-friendly walkways replacing car crash barriers. Bike paths, green spaces, cafes and restaurants are expected to totally transform the area running alongside the Elizabeth and Chain bridges. That’s not all though. A BMX Park, fitness park, and dog track sun beds will add some contemporary flair to the historic city, much of which is being completely rebuilt.

RelatedAmid Warmer Relations With The U.S., Cuba May Be The Next Brooklyn—Who Knew?

New transportation links from the UK (Wizz Air has a new Glasgow route along with a summer music festival) are making the city a Euro hipster hub. The once maligned Eighth District has been turned in Budapest’s Haight Ashbury with bohemians claiming it as their own along with all that goes with them—art, books, jazz and ethno-cool food.

The good news for expats looking to escape the States is that, once situated, Budapest is eminently affordable. According to, a 480-square-foot apartment in a decent part of town will cost you around $355 a month in rent. So what are you waiting for? Your new bolt hole by the Danube awaits.


Jeff Vasishta



Jeff is a writer, husband and father but not necessarily in that order. As a music journalist he counts Prince, Beyonce and Quincy Jones amongst those he’s interviewed. He's also owned and flipped homes in Brooklyn, NJ, CT and PA.

    Avocado toasts are the reason why millennials can’t afford a home, says one Australian real estate developer. #AvocadoToast #Millennials
    Five years on since Superstorm Sandy, Queens’ coastal peninsula is in the midst of a development boom. #Development #Rockaways
    It turns out, renters can’t get enough of good ol’ no-doorman-no-frills apartments. Too bad developers aren’t building any. #Doorman #LuxuryRentals
The Housing Market In Shenzhen, The Silicon Valley of China, Slows In 2017
The city of Shenzhen has been on the real estate radar for quite some time. It is known as the Silicon Valley of China. Many…
Developers Jump Aboard The Trend To Revamp Transit Hubs And Remake Cities
Never has the often used marketing term, “close to transportation” been more important when attracting home buyers. These days it’s not just homes that are…
Millennials Are Fueling The Current Sizzling Real Estate Market
Ever wondered why the hosts of home improvement shows seem to be getting progressively younger, along with the fresh-faced couples getting their new properties made…
The Best Cities For Recent Grads To Rent – Without Blowing Their Entire Paycheck
What’s next post graduation? For most, the logical answer is to find a job. After the excitement of finishing your studies and the big celebration,…
Luxury Knows No Limit In Malaysia As A Deluge Of New Developments Hit The Market
The amount of newly constructed high-end real estate in Malaysia is almost as abundant as the lush vegetation which covers the tropical landscape. Despite vacant…
Don’t Call It A Commune – Upscale Co-Living Is Attracting Major Development
What may have once been referred to as a commune is today termed a co-living space. The big news that it’s not hippies with hemp…
It’s Official—New York Is Now The Most Expensive City In The World To Build
As if you didn’t already know, it’s expensive to build in New York City. Not just expensive but now officially the most expensive place in…
An Ultimate Destination For The Most Comprehensive Real Estate Data, Agorafy Prepares To Launch Nationwide
In the coming days, Agorafy will be entering a new chapter. It is the beginning of a new growth cycle in real estate technology with…

TOP 10