“It all seemed so promising.”
That’s how the latest post mortem on Central Europe’s residential market in the New York Times begins. It takes a walk up Andrassy and skips over to Prague for a look. Its conclusion, that Budapest properties are low compared to the rest of Europe, and are therefor a good mid- to long-term investment is reassuring. But foreigners will never drive the local markets here unless there’s a quick buck to be made.