Apartments in old buildings in Budapest offer enormous potential – especially if they are structurally designed in such a way that they can be sensibly divided up. This potential is particularly evident in one of our current projects in the Palace District: two independent, modern apartments were created from a 66 m² apartment that was getting on in years. In this article, I show how we went about it and why such projects are so interesting for investors.
The starting point: an apartment that had to be completely rethought
When we took over the apartment on József Boulevard, it was in a condition that might initially be off-putting for many investors – but was ideal for us. There was nothing that could have been sensibly maintained.
The electrics, water pipes, heating, walls, floors – everything was outdated and had to be removed. For us, this meant maximum freedom when planning the new building.
Two structural advantages were particularly decisive:
Two separate entrances – a rare but extremely valuable coincidence in an old building.
Kitchen and bathroom in the center of the floor plan – This facilitated the subsequent installation of two complete kitchens and two modern bathrooms.
These two factors enabled the complete functional separation into two profitable units.
The conversion: renewing substance, preserving character
After complete dismantling, a new screed was poured first. We then laid a hard-wearing, waterproof SPC laminate with a wood look – durable, easy to clean and visually appealing.
An important part of our projects is the respectful treatment of historical substance. In Budapest, the old wooden windows are often listed, and in this project we have also carefully restored them and fitted them with modern double glazing.
The result: energy efficiency without losing the character of the old building.
Design philosophy: value without luxury ostentation
When it comes to design, we deliberately focus on a concept that combines quality and comfort without getting carried away with unnecessarily expensive materials. The decisive factor for us is not to incorporate particularly luxurious components, but to create a coherent, high-quality overall experience.
Our experience shows that this:
more careful, more reliable tenants are addressed,
higher rental income can be achieved,
and the wear is considerably reduced. is reduced.
The design usually consists of a mixture of furniture stores (Ikea and the like), online stores and made-to-measure carpentry solutions where it makes functional and aesthetic sense. This is complemented by targeted lighting, coordinated colors and high-quality motif wallpapers that give the apartments character and atmosphere.
Once all the preparatory work had been completed – including pipes, wall openings and air conditioning preparations – the surfaces were plastered and the windows restored. The result is two compact, clean, modern residential units.
The target group: medical students and international tenants
A large proportion of our lettings are aimed at international students, particularly at Semmelweis University. For apartments of this type, we achieve around €20 per square meter net – a very good value in the Budapest market.
International tenants appreciate:
the central location,
the quality of the equipment,
Reliability in administration and communication.
For investors, this results in predictable and attractive potential returns.
Why such projects are so exciting for investors
The combination of the old building fabric, the location in the palace district and the possibility of creating two independent apartments from one larger unit leads to:
significantly higher total revenues,
lower vacancy risk,
attractive prospects for value appreciation,
and a clear target group with stable demand.
Not every old building is suitable for this – but if the structure is right, the result is a highly attractive investment.
What does this mean for you as an investor? Two paths are open
If you want to pursue a similar strategy, there are basically two options:
1. start your own renovation project
Ideal if you want to achieve maximum added value.
We take care of everything: search, planning, construction management, furnishing, letting and administration.
2. buy a finished, already renovated apartment
Slightly more expensive, but faster, simpler and free of construction cost risks.
An attractive option for anyone who wants to start immediately with stable income.
Conclusion
This project is an example of how much potential there is in Budapest’s old apartments – especially if they are divided up in a structurally sensible way and developed to a high standard.
With the right planning and implementation, such projects can be both aesthetically and economically convincing.
If you are interested in your own project or would like to purchase one of our future completed apartments, please contact us.
