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Merits of living in Budapest & Eastern Europe generally

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A Serious look at the merits of living in Budapest

 

... that's what I promised the GF today, after visiting a property show.

 

She liked the looks of a property investment opportunity, and suggested that we should look at it seriously.

 

:

 

The bigger appeal is :

 

+ It seems a cheap place to live, which also offers a good quality of life

+ She has a British passport, so there are no visa issues for her

+ I have a part time employment opportunity that may take me to Luxembourg four times a year

(and BP is much closer than Hong Kong is)

 

We both liked what we saw, so why not have a closer look.

 

Let's start with Wiki's entry on Budapest: http://en.wikipedia.org/wiki/Budapest

 

NOTES on Budapest

=======

+ The largest city of Hungary, the largest in East-Central Europe and the seventh largest in the European Union. It is the country's principal political, cultural, commercial, industrial, and transportation centre,

+ According to 2011 Census, Budapest had 1.74 million inhabitants, down from its 1989 peak of 2.1 million due to suburbanization

+ Cited as one of the most beautiful cities in Europe

 

+ Considered a financial hub in Central Europe,[26] the city ranked 3rd (out of 65 cities) on Mastercard's Emerging Markets Index,[27] and ranked as the most livable Central/Eastern European city on EIU's quality of life index.

 

+ Ranked as "Europe's 7th most idyllic place to live" by Forbes,[30] and as the 9th most beautiful city in the world by UCityGuides.[31] It is the highest ranked Central/Eastern European city on Innovation Cities' Top 100 index

+ Budapest is home to the headquarters of the European Institute of Innovation and Technology (EIT),[34] and the first foreign office of the China Investment Promotion Agency (CIPA).

=== ===

 

/Eastern Europe thread :: http://www.greenener...showtopic=10620

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25 reasons why to invest in Budapest Real estate

- Highlights:

=====

1. Budapest is without doubt one of the world’s most stunning cities...

 

Hungary17.jpg

 

2. Whilst Budapest is known as the ‘Paris of the East’, comparable high-end properties in Budapest are actually a fifth or less of the cost of those in Paris, or indeed in London, and a quarter of those in Dublin.

. . .

5. A very tax efficient investment. From 1st January 2008, property investors will pay no capital gains tax in Hungary on property they have owned for 5 years.

 

compressed%20497556222_32200cfc8b_b.jpg

 

6. Strong economic growth over the last decade, underpinned by an open market economy dominated by massive multinational investment. Budapest is the engine of economic growth in Hungary, contributing over 40% of annual GDP.

 

7. Hungary is converging towards the EU average in terms of living standards and wealth. Living standards in Budapest, as the centre of the country by every possible measure,

. . .

 

Hungary14.jpg

 

12. In Budapest, a fourth metro line is currently being constructed. This massive investment will link Southern Buda to North East Pest, and property prices in the areas surrounding the new metro stations will experience a boom.

. . .

14. The Sept 2007 Global Political Risk index, published by the Eurasia research group, places Hungary as the most stable emerging market country in the world.

. . .

16. Hungary already has the largest shopping mall in Central and Eastern Europe, but that will be dwarfed by a new shopping and leisure development in Budapest’s 8th district, a project recently purchased by British venture capital firm Active Asset Investment Management for 380 million.

17. Budapest is the economic powerhouse of the country, and is also the centre of R&D for many multinational companies such as Nokia and SAP Global, companies that recognise Hungary’s unique geographical location, and its unrivalled pool of intellectual capital.

18. As so many multinational companies have set up base in Budapest, the city is home to an estimated 15-20,000 expatriate workers from all over the globe making the city truly international. As many stay for the long-term, well-heeled expats are also helping to push up property prices in Budapest’s premier districts.

===

more: http://www.gatewaypr...est-in-budapest

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CULTURAL SHOCKS of a Dutch man in Budapest

 

Expats often talk about going through the "stages of culture shock." Examples include the honeymoon phase, the irritation-to-anger stage, the rejection of the culture stage, and the cultural adjustment phase. Do you feel like you went through these or any other stages as you settled into the new culture?

 

Yes, but I skipped the honeymoon phase.

 

4C4F5B5A380FE928C0302853FD7EDFAA.jpg

 

What, if any, were some of the changes you noticed in yourself that might have been caused by culture shock? These might include things such as anger, depression, anxiety, increased eating or drinking, frustration, homesickness, etc.

 

Frustration, un-healthy life style (difficult to get low-fat food).

 

What are some things you appreciate most about the new culture?

 

Family values, being able to patiently stand in cue, that man and women still can be man and women (as opposed to Dutch culture where everybody is almost forced to be the same), clean streets and well behaved.

 

What are the most challenging aspects of the new culture?

 

Corruption, decades of communist rule have influenced the work ethos, the way the government let's the country run into deeper trouble, lack of truly free press and objective reporting, shady party financing, increase in extreme right and hate for foreigners.

===

/more: http://www.expatexch...2/Culture-Shock

Does not sound too bad

 

MORE LINKS

=====

Living in Hungary :: http://www.howto.co....ing_in_hungary/

Dr's w /English :: http://www.expat-blog.com/forum/viewtopic.php?id=76517

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I have a few good friends from Hungary.

 

Apart from their shafted economy, they tell me there's a big and growing number back home who really don't like jonny foreigner, and god help you if you're black, muslim or, worse, a roma.

 

(They now live in Germany and Austria BTW)

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(This is in the area that I am researching):

 

Corvin Shipping Center

corvin_shopping_center_budapest01.jpg

 

Address: Futó utca 37-45., Budapest 1083, district VIII., M3 (blue) metro, or trams 4, 6 Ferenc körút stop

Corvin is the newest shopping mall in the heart of Budapest behind Corvin Cinema. It is easily accessible by metro and trams 4 and 6.

The 4-storey mall offers a wide range of shops (C & A, H & M, Pull & Bear, Orsay, Jeans Club, Tamaris, Promod, Tally Weijl,, DM drogerie market, Deichmann, Hervis, Electro World, Alexandar bookstore,) cafes (Costa Cafe), a CBA supermarket, cafes and restaurants.

===

/see: http://www.budapest-...ping-malls.html

 

 

Architecture of Corvin Promenade

 

The Corvin Promenade project in the heart of Budapest is a unique urban renewal program, even when measured against similar project on the Continent. The project initiator Municipality enlisted the help of sociologists, historical preservationists, environmentalists, traffic engineers, urban designers, and architects in finding a solution to significantly improving the quality of life in this quarter.

When planning the architectural structure for the new quarter, attention had to be paid to both the preservation of the colorful nature of the existing environment in the district, and to creating a truly 21st century modern environment by way of making use of modern technology and using high quality architecture. A place had to be imagined in the heart of Budapest that will be livable for the long term.

===

/more: http://www.corvinset...zet.php?lang=en

 

 

District 8 Budapest, the most up and coming part of the city, which has seen huge investment from the local government. The Corvin Area will be the next 'place to be' in the city of Budapest on completion and the locals are already abuzz' about it. Budapest is renowned for its 1st class transport and the Corvin is superbly located to take advantage of this and allow people to access all parts of the city in minutes

WELL ORGANISED TRANSPORT…

Two M3 metro (underground) stations located at each end of the Promenade.

Tramlines 4 & 6, the busiest closed-track public transport service in Europe at the gate of the Promenade.

8 minutes to Nyugati railway station.

5 minutes to Deak ter (City Centre traffic hub)

===

/more: http://www.propertyi...e-Budapest/100/

 

 

Corvin Atrium shopping center opened yesterday (October 26, 2010). A prime location, avant-garde architecture, customized services, a highly varied and original retail mix, a commitment to responsible citizenship: these are what define this new shopping center, located in the heart of the Hungarian capital.

 

110044_Corvin_Shopping_Centr_rgb980x551.jpg

 

A unique location in the heart of an ambitious urban renewal program

In the center of a catchment area that contains nearly 650,000 inhabitants, Corvin Atrium enjoys a prime location in one of Budapest’s most densely populated districts. The center is perfectly accessible via existing mass transport lines. Two light rail stations and one subway station (and a second one under construction) provide a daily flow of an estimated 400,000 commuters. In addition, 87,000 vehicles use the thoroughfares that take them past the shopping center daily.

 

Corvin Atrium is an integral part of the largest urban renewal project currently underway in Central Europe. The Corvin Promenade Project is being carried out in the district of the celebrated theater of the same name, which was recently transformed into a movie house (800,000 visitors a year). Covering 22 hectares, the global project also includes the construction of 2,800 new apartments, 150,000 m² of office space, including a science hub, and 10,000 m² of public space surrounded by 20,000 m² dedicated to leisure and recreational pursuits.

===

/more: http://www.europe-re...articleid=17016

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Hungary Debt Rating Cut at S&P on Economic-Growth Prospects

By Edith Balazs on November 23, 2012

 

Hungary's credit rating was lowered to two steps below investment grade at Standard &Poor's, which said the government’s policies are eroding medium-term economic- growth prospects.

 

The country's long-term foreign- and local-currency sovereign ratings were reduced one level to BB, S&P said in a statement today. The grade, on par with Portugal and Turkey, has a stable outlook, signaling the ratings company is more likely to keep it unchanged than to cut it or raise it. Hungary's government said the decision is frivolous.

 

Hungary is in its second recession in four years. The government backtracked last month on a pledge to cut a special bank tax in half next year as part of a salvo of measures to keep the budget deficit with the European Union limit of 3 percent of economic outlook. S&P said it expects the government to meet its fiscal targets in the short term.;

 

This move in the ratings is a bit hard to justify, Timothy Ash, head of emerging-market research at Standard Bank (SBK) Group Ltd. in London said in an e-mail. It does kind of make you think what planet the ratings agencies are on these days.

. . .

S&P expects Hungary’s economy to grow 0.8 percent in 2013 followed by real per capita growth of about 1.7 percent on average in the medium term, according to the statement. The Cabinet sees the economy expanding 0.9 percent next year.”

===

/more: http://www.businessw...rowth-prospects

 

Mortgage interest rates ??

 

We were told, they are:

 

+ 6%, if the loan is in Euros, and

+ 12%, if in Florins

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I have a few good friends from Hungary.

Apart from their shafted economy...

With a deficit of 3% of GDP, and positive growth expected,

Hungary may be less "shafted" than the UK

 

...they tell me there's a big and growing number back home who really don't like jonny foreigner,

and god help you if you're black, muslim or, worse, a roma.

 

THREATS TO SAFETY AND SECURITY: Although Hungary is generally a safe place to visit, you should use caution and stay alert. Be especially careful in train stations and crowded tourist areas. In addition, you should avoid demonstrations and political rallies. In recent years a few demonstrations have turned violent, and authorities have used riot police and water cannons to control crowds.

 

In recent years, right-wing radical groups have gained popularity in Hungary due to their nationalist messages, which include intolerance towards Jews, Roma, and homosexuals. Although these groups are not explicitly anti-U.S., you should avoid public demonstrations and confrontations with their members. Be alert and aware of your surroundings, and pay attention to what the local news media have to say. In general, larger public demonstrations are announced on the Demonstration Notices page within the U.S. Embassy Budapest website.

 

CRIME: Crime in Budapest is a concern. Be careful during your visit, and exercise the same caution you would in any big city or tourist area at home. Do not walk alone at night; keep your belongings secure at all times. Passports, cash, and credit cards are favorite targets of thieves. Keep items that you do not store in your hotel safe or residence in a safe place, but be aware that pockets, purses, and backpacks are especially vulnerable, even if they close with a zipper.

===

/more: http://travel.state....s/cis_1137.html

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Budapest-Cafe08.jpg

 

Budapest: Café Culture

 

In another photo post, I wrote about why Budapest is one of my favourite cities in the world. There are few cities that can match Budapest for shear beauty, culture, good food and of course, its amazing cafés. The best part, is that Budapest and Hungary in general remain very affordable. Paris is nice, but it can easily be four times the cost.

 

My wife and I are huge coffee people and Budapest cafés don’t disappoint. Most are still one-off, privately owned restaurants with huge amounts of character and charm. In virtually every café, you can get great food, decent wines and alcohol, all with full service. They are not the generic chain stores that have proliferated the North America.

 

Most cafés have are adorned with interesting art and furniture and attract a very diverse audience. Even the way that Europeans drink coffee is so different. People go to cafés to talk and socialize, not just get some work done or pick up an over-sized dose of caffeine on the way to work. I just shake my head every time I see cars lining up to buy coffee through a drive-through in North America.

===

/see-more-Photos: http://jetsetcitizen...budapest-cafes/

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PROPERTY COST - European Countries

Price: EUR per Sq.Meter

( in the centre of the most important city of each country )

 

Monaco----- €38,774

UK------------ €19,100 : HKD 17,744 psf (8.26 x H.)

France------ €14,696 : HKD 13,653 psf (6.36 x H.)

Russia------ €13,010

Switzerland- €12,610

= = =

Sweden------ €6,991

Italy----------- €6,327

Finland------- €6,220

Luxembourg- €5,647 : HKD 5,246 psf (2.44 x H.)

Spain--------- €4,683 : HKD 4,350 psf (2.02 x H.)

Netherlands- €4,650

Austria-------- €4,567

Denmark----- €3,782

Czech Rep.-- €3,605 : HKD 3,349 psf (1.56 x H.)

Greece------- €3,516

Turkey------- €3,384

Latvia-------- €3,355

Andorra------ €3,330

Poland------- €3,326

Germany---- €3,094 : HKD 2,874 psf (1.34 x H.)

Montenegro- €3,094

Belgium------ €3,064 : HKD 2,846 psf (1.32 x H.)

Ireland------- €3,063

Ukraine------ €2,807

Slovenia----- €2,573

Lithuania---- €2,373

Hungary----- €2,312 : HKD 2,148 psf (1.00 x H.)

Slovak Rep. €2,244

Cyprus----- €2,238

Portugal---- €2,213

Serbia------ €2,135

Croatia----- €2,081

Estonia----- €2,062

Romania--- €2,040

Malta------- €1,847

Macedonia €1,232

Bulgaria--- €1,151 : HKD 1,069 psf ( 49.8% x H.)

Moldova---- €965

 

===

/see: http://www.globalpro...re-meter-prices

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Leipzig beats Budapest IMHO. I've lived in both. Amsterdam is 7hrs train time, Luxembourg no more than that I'd imagine.

 

Here's a nice (small-ish 53sqm) flat in a top location. Walk out your door to cafes, trams...

 

http://www.immobilienscout24.de/expose/67104332?navigationServiceUrl=/search/shortlist/exposeNavigation/navigate.go?prevId%3D67359177%26nextId%3D64805771%26realEstateId%3D67104332%26realEstateType%3D12&navigationHasPrev=true&navigationHasNext=true&navigationBarType=SHORTLIST

 

Here's my website for more info.

 

www.lostinleipzig.com

 

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Here's something on Rental Yields...

 

(Gross annual rental income, expressed as a percentage of property purchase price. This is what a landlord can expect as return on his investment before taxes, maintenance fees and other costs.

The properties are 120-sq. m. apartments located in premier city centre.)

 

Top 3 & Highlights

Moldova 10.00%

Ukraine--- 9.09%

Hungary-- 8.10%

= = =

Bulgaria-- 5.28%

Germany 4.12%

UK ------- 3.43%

Greece-- 3.25%

France--- 2.99%

===

/more: http://www.globalpro...ope/rent-yields

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Leipzig beats Budapest IMHO. I've lived in both. Amsterdam is 7hrs train time, Luxembourg no more than that I'd imagine.

Here's a nice (small-ish 53sqm) flat in a top location. Walk out your door to cafes, trams...

http://www.immobilie...rType=SHORTLIST

 

It doesn't quite seem like 53sm - Is that Gross or Net?

 

======

Leipzig : Old Bldg : 53.0 sm = 570.3 sf : EUR 60,000 = EUR 1,132 psm = HKD 1,052 psf

=== + balcony : 5.00 sm = 53.8 sf

============ : 58.00 sm = 624.1 sf /.77 = 810 sf = HKD 741 psf

 

As noted, Gross yields are about Double in Budapest, what they are in Berlin (? top city, Germany)

 

I am not impressed with the stairway in that old building

 

But thanks for the suggestion and the example.

It is possible (likely?) that Leipzig could be more resilient in a big global crisis.

 

I wonder what they think of English-speaking foreigners?

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Ten Year Price Change : 5yr : 3yr

Top 4

Ukraine 379.37%

Russia- 336.73%

Serbia-- 265.09%

Bulgaria 176.48%

(Highlights)

France--- 75.30%

Austria--- 70.09%

UK --------- 68.74%

Spain----- 56.82%

(Bottom 4)

Hungary--- 42.57%

Switzerland 39.41%

Greece----- 14.78%

Netherlands 13.75%

===

/more: http://www.globalpro...change-10-years

 

Note: Look at the Netherlands, maybe ?

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COST OF LIVING

 

(For Travelers):

Budapest

According to TripAdvisor's annual TripIndex survey, a comparison of prices for accommodations and activities in cities, Budapest is the most affordable city for U.S. travelers in all of Europe. Reports TripAdvisor, the cost for "a one-night stay in a four-star hotel, one cocktail per person, a two-course dinner with a bottle of wine, and round-trip taxi transportation" is $194 in Budapest.

We found nightly rates at Hotel Palazzo Zichy, a popular property that's ranked number two of 333 Budapest hotels on TripAdvisor, as low as €59 per night. That's for a stay during the summer high season, no less.

===

/more: http://travel.usatod...ties/56322220/1

 

(For Residents):

 

Cost Of Living

The cost of living in Budapest is very low compared to other places. The cost of living comparison to other places, uses local prices for defined quantities of the same goods and services at or near each location, converted to a single currency. The prices are grouped together into basket groups and the cost of living index calculated for each basket. The cost of living index for Budapest can be compared to any other selected location using the calculators.

 

Budapest is currently ranked 627 out of 780 places (rank 1 is most expensive: rank 780 is least expensive). The current cost of living rank for each basket, together with selected local benchmark prices converted to US Dollars are as follows:

(Highlights):

Grocery costs are very low compared to other places for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. There are 707 places that are more expensive, and 72 places that are less expensive for groceries.

Benchmark price in a major international retail store for 1 kg apples is $1.26, 1 kg oranges $1.38, 1 head lettuce $0.64, 1 kg potatos $0.60, 1 kg boneless, skinless, chicken breast $5.81, 1 kg cheddar cheese $6.72, 1 dozen large eggs $1.85, 500g loaf white bread $0.80, 1 L full cream milk $0.91, and 1.5 L water $0.53.

 

Healthcare costs are low compared to other places for doctor visit, hospital stay, non-prescription medicine, and medical insurance. There are 555 places that are more expensive, and 224 places that are less expensive for healthcare.

Benchmark price for a private practice Doctor visit for an uninsured patient is $65, and a private hospital stay per day including nursing care, medications, diagnostic tests, food, and related costs is $1,916.

 

Household Accommodation costs are low compared to other places for items such as apartment purchase, mortgage rate, rental, and utilities. There are 511 places that are more expensive, and 268 places that are less expensive for household accommodation.

Benchmark rental for a secure upmarket unfurnished apartment (3 bedrooms) is $1,567 in a central location, and $868 in a suburban location, per month, excluding utilities.

===

/more: http://www.xpatulato...Budapest_94.cfm

 

 

(RANKINGS, Cost Of Living)

 

Budapest- : #627 out of 780 places (rank 1 is most expensive).

 

London----- : #19 (#22 accomodation, #128 groceries)

Paris-------- : #56

Manchester : #83

Prague---- : #378

Budapest- : #627 (#512 accomodation, #708 groceries)

Sofia, BG- : #763

/see-Europe: http://www.xpatulato...er-2012_388.cfm

(Other)

Hong Kong-- : #5 (#1, accomodation, #56 groceries)

New York-- : #16 (#11 accomodation, #50 groceries)

Toronto---- : #46 (#144 accomodation, #86 groceries)

Chicago-- : #301 (#368 accomodation, #300 groceries)

Charlotte- : #602 (#715 accomodation, #467 groceries)

GreenvilleSC : #626 (#734 accomodation, #396 groceries)

===

/more: http://www.xpatulato...Budapest_94.cfm

/see-Europe: http://www.xpatulato...er-2012_388.cfm

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It doesn't quite seem like 53sm - Is that Gross or Net?

 

======

Leipzig : Old Bldg : 53.0 sm = 570.3 sf : EUR 60,000 = EUR 1,132 psm = HKD 1,052 psf

=== + balcony : 5.00 sm = 53.8 sf

============ : 58.00 sm = 624.1 sf /.77 = 810 sf = HKD 741 psf

 

As noted, Gross yields are about Double in Budapest, what they are in Berlin (? top city, Germany)

 

I am not impressed with the stairway in that old building

 

But thanks for the suggestion and the example.

It is possible (likely?) that Leipzig could be more resilient in a big global crisis.

 

I wonder what they think of English-speaking foreigners?

 

53sqm will include the balcony, of which only 50% of the square area is counted - never got a straight answer as to this unusual practice - typically quirky German understatement. In any event, that agent has 3 flats in that same building. Don't expect much customer service from German agents. Berlin - avoid. Unless you want to engage in flipping pre-builds etc. Berlin sadly is well into it's parabolic phase.

 

Germany has very quietly and without any fanfare morphed into the most pleasant society in all of Europe, IMHO of course. But I do base this on extensive global experience. Leipzig resilient in global crisis? Attitude to foreigners? All i can say is see for yourself. English is spoken by everyone under 30 and widely spoken by everyone. Budapest is fine I still like it, especially if you are in your 20s or 30s, but it's a bit edgy outside of the core expat areas. I prefer the below radar and off beat nature of place like Leipzig. here's a good article I saw recently, http://www.spiegel.de/international/zeitgeist/leipzig-is-the-new-berlin-a-863088.html

 

Other top places in Europe I like are Bremen, Hamburg, Vienna, Tallinn, Sofia, Cork, around Lake Como and Costa Blanca (Moraira, Calpe, Benissa). Prague is well past its sell by date - avoid. Amsterdam has a special place in my heart, but its very very expensive dear me. I like Faro and Sagres in the Algarve too - they are v cheap and with v beautiful coast. All hugely personal choices.

 

I suggest you get an older big motorway cruiser (530d, A8) or camper van and spend several months touring around. You'll never discover your piece of heaven via the internet.

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53sqm will include the balcony, of which only 50% of the square area is counted - never got a straight answer as to this unusual practice - typically quirky German understatement. In any event, that agent has 3 flats in that same building. Don't expect much customer service from German agents. Berlin - avoid. Unless you want to engage in flipping pre-builds etc. Berlin sadly is well into it's parabolic phase.

Well that sounds like very good news, since I have an investment in a Berlin property fund

 

Any evidence of that?

 

Do you speak fluent Germany, W2W ?

I think that might make a bog difference about where you would want to live.

Do you think one can live comfortably in Central Leipzig, or Central Budapest, with just English ?

 

I also like Tallin, but maybe just in the summer

=== === ===

 

EXCERPTS on Leipzig:

 

Leipzig languished for a long time. It was a city in the heart of eastern Germany, but barely on anyone's radar. It called itself the "city of the peaceful revolution." After all, this is where people first took to the streets in the weekly "Monday demonstrations" to protest the communist regime of former East Germany. That was back in 1989. But Leipzig didn't experience its transformation until later. The change was heralded by the success of Neo Rauch and other painters of the New Leipzig School. Every two or three years, Leipzig then showed a sign of life to the outside world. The airport was expanded, and the city made a bid to host the Olympic Games.

 

In the meantime, a hint of euphoria has seized the city. According to city hall, the population grew by 9,000 last year. With 533,000 people now living in Leipzig, the city finally has as many inhabitants as it did before the Berlin Wall fell in 1989. It has become a magnet for young, creative individuals.

. . .

Just like in Berlin during the early 1990s, artists, students and entrepreneurs are moving into Leipzig's empty old buildings. Monthly rents, excluding utilities and service charges, run at about five euros per square meter, or $0.60 per square foot. Rents in Berlin are now almost twice that, and in Munich they are two and a half times as high. Leipzig has become an escape for young Germans who think Hamburg is too expensive, Munich is too stuffy, and Berlin is overrated.

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My German is woeful but Im working on it... part of the problem is all the Germans I nknow speak better English than me

 

A real estate agent has offered me 85k cash to sell my berlin flat for 97k. And he'll take another 5-7% commission from the buyer. And I may have to bribe my tenant to leave.

 

With the proceeds I may buy this,

 

http://www.immobilienscout24.de/expose/67477978?PID=E-54629062&ftc=9004EXPXXUA&_s_cclid=1353957290

 

This would be 200k easy in equivalent area of Berlin. But rents for 80% berlin rate, more if you short let it (easily done).

 

Evidence enough? It is for me ;)

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Actually, a fair amount of teaching is said to be done in English, to attract international students

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very timely this thread, thanks Dr B, I am travelling there soon, will post my impressions!

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They will be most welcome.

And there's a chance I will be there in about two weeks time

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I find Eastern Europe very enjoyable, and more importantly affordable, I live in Leipaja Latvia, its on the western coast, we have the best beaches in all of Europe beautiful white sand, only problem is its a little chilly in the Winter!

 

But for affordability I am confident it cant be beaten.

 

You can get apartments 70m2 in need of renovation for 2000USD

or prime city centre 40000usd fully furnished.

 

Land is very cheap as well old farms are going for very little indeed, you can buy agricultural land for 1000 USD per hectare, normally that is with water and power and a few old outbuildings in neeed of renovation

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Grayphil,

I think I recall that your wife is Latvian, is that right? Does that make it easier to own property?

 

How do you cope with the language, culture, and legal matters, if you don;t mind me asking?

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You can get apartments 70m2 in need of renovation for 2000USD

or prime city centre 40000usd fully furnished.

 

 

Wow, that's cheap!

 

What about a place like this?

 

Lat.png

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