Pikkolo Apartments are ideal for young people and families with small children as this development offers small studios up to 3 room apartments of various layouts for all tastes. Some apartments include garden or green roof-top area.
The proximity of university campuses and the bustling downtown as well as the practical and moderately priced flats make Pikkolo especially attractive for students. Families on the other hand, will be convinced by the excellent public transport and calm neighbourhood.
• Studios with 29 sqm from €39,595
• 1 bedrooms with 40 sqm from €50,542
• 2 bedrooms with 54 sqm from €67,173
Floor area of the apartments varies from 28 to 70 sqm, most of them complemented by a balcony or a terrace. The developer has been careful to maintain comfort and effectiveness at the same time, which is further improved by quality engineering solutions. The building faces south, it has a terraced design and the building across the street is only one level high, so even homes on the ground floor receive plenty of sunlight.
The ground floor will include retail spaces, parking area and storage rooms. The inner yard of the house will be turned into a green park area. The seven level house will include elevators for maximum comfort. Orczy tér, a large green park is only a one-minute walk away from the quiet street of Pikkolo Apartments. This is where numerous buses and trams stop and take you to the city center within a few minutes.
The Location
The building is located under Dobozi utca 41, in a quiet and sunny street, starting from a popular and developing junction of the 8th district, Orczy tér. Transportation is excellent, bus #9, trolley #83 and trams #24 and #28 are only one minute away. The blue and the red metros are two tram stops away. The new metro 4 will stop only 500 metres from the development. Nagykörút is a 10 minute walk from here.
Payment Schedule
Ideal for investment purposes, those who invest in Pikkolo Apartments will benefit from a 30-70 payment structure, paying only 30% of the total cost as a first installment with the balance due on the completion of the project.
Prices are very competitive for this location and offer a significant scope for capital growth.
Property Type
Price
30% Deposit
Studio with 29 sqm
From €39,595
From €11,879
1 bedrooms with 40 sqm
From €50,542
From €15,163
2 bedrooms with 54 sqm
From €67,173
From €20,152
Prices from €39,595 to €111,531
30% required on signing of purchase contract
Balance of 70% will be due on completion in Q3 2008.
IPP Global can assist you with acquiring up to a 80% mortgage.
The Investment
The construction has raised the interest of investors, mainly due to the fact that the neighbourhood will undergo a large-scale urban development project in the coming years. The development has already started in the neighboring streets. Due to the systematic revitalisation projects, year after year new neighbourhoods emerge in Budapest. If you buy a flat at Pikkolo Apartments now, it is for certain that its value will be much higher even at the time of the handover. (Property prices are steadily rising in the 8th district. At the moment, however, they are still very low, so this is the best investment area in Budapest.)
Pikkolo Apartments is an excellent pick for those investors who are looking for a safe location investment. The expected annual rental yield on these apartments are around 6-7%. The local rental market demand is very high in this location, but foreign students also rent apartments here.
Property Type
Value in 2013*
Rental Income**
Studio with 29 sqm
€71,351
€200 / month
1 bedrooms with 40 sqm
€91,078
€300 / month
2 bedrooms with 54 sqm
€121,048
€400 / month
* Based on Capital Appreciation of 12.5% per annum, 5 years after completion of the development.
** Based on a 7% annual rental yield.
Pikkolo Apartments is an excellent opportunity to invest into city center District 8 where the rental and capital appreciation potential is probably the highest in Budapest.
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