Recently Budapest has become the new Mecca for tourism and the development of businesses. Property prices are soaring as a result and it’s definitely a sellers market. It’s not unusual for a real estate project in Budapest to be center stage not only on the European market, but in comparison to the world stage as well.

In 2004, the Czech Republic and Hungary joined the then burgeoning European Union, and the rest, as they say, is history. Real estate in Hungary offers maximum opportunities for profit at the present time, partly due to the fact that the number of expatriates living in Budapest is at an all-time high, forcing the demand for rentals up to record heights.

To be sure, the awesome beauty and bounty of the city of Budapest merits its new-found glory. It is divided into two sections by the great flowing Danube, the inspiration of poems and music. Rolling hills frame the River Danube and a quaint medieval feel is juxtaposed with the practical contemporary. It is a city full of history which is only now coming into its own.

Statistics on crime in the city of Budapest depict a comparatively safe environment, but – as with most similar cities – beware of the occasional con if you are not a native. For example, taxis, while cheap, have a bad reputation with foreigners. There are drivers who set their own prices, which can be unreasonably high.

The people of Budapest and of Hungary in general can be described as among the friendliest on the planet. A large proportion of them speak English as well as Hungarian, and will take time to help a foreigner in need.

Budapest is the hub and core of Hungary, its capital and the center of culture, commerce and politics. It boasts about a million and a half inhabitants and attracts tourists and new businesses from all over the globe. Hungary itself has spawned ultra-famous musicians, businessmen and scientists, and the allure of its historical flavor is quite distinct.

Now is an excellent time to visit this remarkable city, especially if you are thinking of buying or building real estate. At one time, the city of Prague was considered the capital city of Europe, but Budapest has now overtaken that position, especially for real estate projects and real estate investments. It is generally agreed-upon that those who invest in real estate in Hungary during the year of 2007 stand a good chance of making their fortunes on the world real estate market.

This extraordinary trend, however, cannot last forever. Though Budapest will continue to attract real estate investors and business entrepreneurs, the profit margins will naturally slow. Our days are probably the last chance to buy properties in Budapest, even if you don't have a large sum, and to enjoy from a great return on investment.