Non-EU citizens enjoy the flexibility to purchase properties in Hungary without undue constraints. All it requires is getting a corresponding permit from the local authorities, a process typically completed in a matter of weeks. Hungary’s property acquisition laws are characterized by transparency and efficiency. The associated fees and taxes at the same time remain competitively low compared to their European counterparts.
One of the most attractive destinations for property investment in Hungary is the country’s capital, Budapest. Q Wealth real estate experts are here to tell you about several prime residential options in the 4th district of Budapest, known as Ujpesh.
Property location overview
Situated in the northern part of the Hungarian capital along the left bank of the Danube River, Újpest is the 4th district of Budapest.Its name, Újpest, means New Pest. This suburban district was originally founded on the outskirts of the city of Pest in Hungary in 1838. For as long as 6 decades, Újpest essentially remained a village until it gained a city status in 1907. In 1950, it merged with the capital and became an integral part of the Greater Budapest conurbation. Presently, the district has an area of 18.8 square kilometers and is home to nearly 100,000 residents.
- District structure: The district comprises 6 parts, with Újpest being the largest one. These are the neighborhoods the district includes apart from Újpest:
- Meder
- Kapostasmegyer
- Isztvantelek
- Sekeshdulo
- northern tip of Nepsziget Island.
- Neighboring districts: A part of the Pest Valley, Újpest borders on the town of Dunakeszi and the Dunakeszi Peat Lakes in the north, adjoining the 15th district (Rakospalota) in the east, and the 14th district (Zuglo) in the south. To the southwest, it abuts the 13th district (Angyalfold). The western edge of Újpest is defined by the Danube River and the 3rd district (Obuda).
- Ethnic diversity: The 2011 census revealed a population of 98,284 in the district, with a diverse array of ethnic groups:
- 84,161 (93.58%) identified as Hungarians.
- 1,226 (1.36%) were of Roma ethnicity.
- 957 (1.06%) boasted German roots.
- 412 (0.46%) were of Romanian descent.
- 347 (0.39%) had Russian heritage.
- Architectural evolution: The district predominantly features construction from the latter half of the 20th century. Despite its status as a privileged industrial area, infrastructure renovation and modernization in Újpest began relatively late, in the early 1970s, coinciding with the construction of the 3rd subway line. This period witnessed a transformation in the district’s appearance, marked by an extensive residential complex development. From 1969 to 1986, around 36,000 new residents settled in 16,840 apartments in the district’s central area. Additionally, around 5,000 old apartments were demolished in 2 phases, replaced by roughly 16,000 new units, mainly in 5- and 11-story buildings. The district also saw the construction of elementary schools, and kindergartens, as well as trade and service facilities. In 1982, the construction of a new district on the outskirts of Újpest, Kapostamedere, began.
- Újpest landmarks to take note of:
- Újpesti Torna Egylet (UTE) Stadium: The stadium is home to the popular Újpest football club, founded in 1885 and named after the district.
- Roman Catholic Parish Church of Our Lady: Built behind the town hall and completed in 1881, it was the first Catholic church in the settlement.
- Újpest Synagogue: Erected in 1886 on Berzeviczy Street, the Neolog synagogue is still in use. It is one of the early prominent public buildings in Újpest.
- Arpad Water Tower: The Arpad Water Tower is an outstanding example of early Hungarian reinforced concrete architecture and a symbol of Újpest, erected in 1912. Until February 2003, it had supplied industrial water to the district’s factories.
- Economy: After World War II, Újpest emerged as an industrial stronghold, hosting factories that specialized in leather goods, textiles, hair products, school furniture, sports equipment, and mining machinery. With the regime change, some factories closed, while many buildings found new purposes. Today, only the Chinoin and Tungsram (United Bulb) factories, owned by the American conglomerate General Electric and Cérnagyár, remain in operation.
- Transport: The third metro line runs through Újpest parallel to the Danube, with its terminal station in Central Újpest. National Road No. 2 crosses the district en route to Vác. On the eastern side of the district, railway lines connect Budapest to Vác and Szentendre, while the southwestern side features a railway line connecting Budapest to Esztergom. In addition to the subway, various bus routes, including suburban, night, and long-distance bus lines, serve the district.
Now, let’s explore the properties available in Újpest for those seeking to obtain a residence permit in the European Union.
4-room apartment in Metrodom Park: EUR 510,000
The Metrodom Park residential complex is thoughtfully designed to cater primarily to families in search of well-connected housing options in the Hungarian capital. The buildings are enclosed by fencing from all sides, and access to this gated community is exclusively available through Budafoki Street.
Here’s what the key highlights of the featured apartment include:
- A generous total area of 89 square meters, complemented by a spacious 40-square-meter balcony.
- The apartment has 4 rooms.
- It comprises 3 bedrooms, 2 bathrooms, 2 toilets, and 2 conveniently sized storage rooms on the same floor.
- Sitting on the 12th floor, the apartment boasts panoramic views of the community park, the Danube River, and the picturesque Buda Hills.
- In impeccable condition, the property is meticulously maintained.
- For your convenience, the apartment building comes with a modern elevator.
- Central heating with individual metering devices ensures efficiency and personal control.
- With a ceiling height of 3 meters, the apartment is comfortable to live in.
- Incorporating a cutting-edge smart home system, it offers enhanced convenience.
- The apartment’s kitchen is fully automated and well-equipped.
- With round-the-clock concierge service for their peace of mind, the would-be residents of the community won’t have a worry in the world.
4-room apartments on Volfner Street: EUR 339,000
These spacious and well-lit apartments are to be found in a multi-story building that clinched the prestigious Building of the Year award in Budapest in 2020. The outstanding residence is on Volfner Street.
Here’s what makes the property worth your attention:
- A generous floor area spanning 74 square meters, complemented by balconies that total 16 square meters.
- The apartment boasts 4 rooms and offers a cozy living experience.
- It is conveniently located on the 5th floor.
- From the apartment’s windows, you will enjoy the serene views of the community park.
- The apartment is in perfect condition.
- As a resident, you will have elevator access.
- Central heating is in place.
- With a ceiling height of 3 meters, the apartment is rather spacious.
- The layout encompasses a welcoming living room, 3 bedrooms, 2 bathrooms, 1 separate toilet, 2 balconies, and a practical storage room of 3 square meters.
- Southeast-facing windows guarantee abundant natural light.
- A fully automated kitchen enhances the apartment’s functionality.
- The sale includes all the furniture, lighting fixtures, curtains, and curtain tracks showcased in the photos.
- Round-the-clock concierge service ensures the safety and security of the residents.
Barnhouse on Labdavero Street (North Budapest): EUR 292,027
Sitting on the peaceful Labdavero Street in the suburban outskirts of Újpest, this newly built cottage is in close proximity to the center of Budapest’s 4th district. The location offers convenient access to multiple schools, medical facilities, and a range of shopping and sports amenities.
Take a look at what you’ll get if you make up your mind to purchase the property:
- A generous total area of 101 square meters.
- A 3-story structure with 4 rooms that embodies Scandinavian minimalism and incorporates cutting-edge technological solutions. Inter alia, you can benefit from solar energy and a heat pump system for both heating and cooling. The result is reduced operational costs.
NB: The property prices mentioned above are subject to change. For a complete offer and up-to-date property availability information, please reach out to the Q Wealth team. Our experts are here 24/7 to assist you!
