Anker köz , 1061, 690 sqm
This property is located in one of the most sought after prime locations of downtown Budapest, in an area filled with modern shops, trendy coffee houses and famous after hour spots. Access to public transportation around the flat is excellent, with all major tram and metro lines located within a few minutes walk. This neighbourhood (the more central and inner part of district 7 ) is one of the most popular residential areas for international students and expats living in Budapest.
The original layout of the property when purchased was one bedroom + one living room + one bathroom + 2 small half rooms for kitchen and storage.
Remodelling the property:
The property was smarty and elegantly remodelled into a two bedroom apartment + two full bathrooms + a bright living room + a designer kitchen, and rented out immediately upon completion of renovation.
The property was reconstructed from the ground up, using high quality materials and fine taste decor. The level of renovation works on "Luxury flats" or "semi-luxury" flats requires major reconstruction and the usage of high-end material, however it attracts higher paying tenants which usually rent the property for long term. The process included: planning how to maximise the potential of the property by opening another bedroom as well as a second bathroom , complete demolition of floors, walls, and bathroom, building inner ytong walls, making a new opening from the property to the building's corridor to allow even more flow of air and light, installation of split air conditioning thorough-out the flat, under floor heating, usage of high end ceramics that can take the heat, triple glazing double tall windows in every room, and even restoration of an antique closet found in the flat, which was a costly, yet as can be seen in the photos - quite worth it, effort.
The total cost of renovating the property, including planning, electrical and water works, reconstruction, remodelling, and custom made carpentering works: 57,000 euro.
With more than 20 universities in Budapest, dozens of headquarters of international companies, and the majority of embassies spread across a limited area of the city centre, the Hungarian capital is a hub for international students, professionals, diplomats and expats from all around the world, many of whom are used to high standard of living and have the ability to pay higher rentals.
ℹ️ Important attributes to consider when undergoing a full renovation of a classical apartment in Budapest:
✔ In recent years, the quality of properties increased and so the demands of tenants, it is important to accommodate to their needs in order to have an advantage in both the rentals and the property sale markets
✔ Make sure all rooms have separate entrances for increased privacy
✔ Quiet enviroument - double glazed windows to reduce noise
✔ Air conditioning nowadays is a must in most apartments
✔ Divide the bedrooms to be equally sized when possible
✔ When opening 2 bedrooms, try accommodate two bathrooms to gain an advantage over other flats in the same price range
✔ Properly plan in advance the lighting (whether natural or artificial) and flow of air