Budapest has been one of the most attractive destinations for Central European property investors for years: strong tourism, EU membership, and square-metre prices still lower than most Western European capitals. But buying is only half the story — the renovation decides whether the investment actually earns, or sits empty for years on an "I'll get to it" list.
Where should you buy?
For short-term rental (Airbnb), districts V–VIII are the strongest — tourist demand there is steady, and at 65–75% occupancy a 2-bedroom apartment can generate HUF 6–10 million a year. For long-term rental, the range is wider: districts with good public transport near universities (IX, XI, XIII) offer a stable, predictable tenant pool.
What to check before you buy
Check three things before signing the sale contract. First: whether the building allows short-term rental — some districts and building associations restrict or ban Airbnb activity, and this is governed by both local regulation and the building's own bylaws. Second: the building's condition — the facade, roof, and shared mechanical systems aren't your renovation cost, but they affect the shared maintenance fee and the property's long-term value. Third: the apartment's own condition — this decides whether you need a cosmetic or full renovation.
| Renovation category | Best for | Price |
|---|---|---|
| Cosmetic | Apartment in good condition, fast to market | 120,000–180,000 Ft/m² |
| Full | Airbnb / premium rental, long-term value | 220,000–320,000 Ft/m² |
| Premium | Top-tier rental, design-focused | from 320,000 Ft/m² |
How do you manage the renovation if you don't live in Budapest?
This is the most common concern for foreign investors — and a fair one. The answer has three parts: a fixed-price contract (no surprises after the fact), weekly photo and video reports (you always know where the project stands), and a detailed design project that settles every decision before work starts — so you're never asked to decide something you can't see in person. This is exactly the model ConSol built into its remote renovation service, with HU/EN/RU communication.
What returns can you expect?
With an Airbnb-optimised renovation in a good location, a 7–9% annual yield is a realistic target — the exact figure depends on renovation quality, occupancy, and pricing strategy. Long-term rental typically yields less but is more stable, with a lighter operational load.
Who handles day-to-day operations if you're not on site?
Once the renovation is complete, it's worth handing daily operations — guest communication, cleaning, maintenance — to a professional property management company, typically for 2.5–3% of revenue; if needed, ConSol can take on this role itself, as we also operate as a property manager. If you also need help with the purchase, we draw on our established network of realtor partners we work with regularly, who can find the right property and negotiate the price. ConSol hands over the renovation ready to rent — furnished, and with listing-ready photos if needed.
Frequently asked questions
Not strictly required for the purchase itself, but most foreign investors open a local account for the renovation and ongoing costs (service charges, utility bills). Your real estate agent or lawyer typically helps set this up.
A cosmetic renovation takes 6–8 weeks, a full renovation 3–4.5 months — on top of that, the purchase itself typically takes 1–2 months, plus a few weeks for rental registration.
At ConSol, everything from the contract to weekly photo reports is handled in HU/EN/RU — no interpreter needed, and our real estate and property management partners communicate in foreign languages too.