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  • Malev Airlines Grounded
  • Today (Feb 3rd) you may have noticed in the news that Hungary's national airline Malev has ceased operations. This is a great shame as Malev has always been a quality airline. Tower's own directors were today stuck in Dublin, but have since found an alternative flight.

    Below is a news story on...
  • Forint at its Strongest in Three Months
  • Hungary's forint has not been as strong as on Thursday morning for three months. Shortly after 8 A.M. the HUF was quoted south of 296 versus the euro on the interbank market. After 09:00 it gained even more, going below 295.

    The forint rebound with momentum from its all-time low reached...
  • Forint Drops but Real Estate Activity Continues
  • Many of you may have read recent news regarding the Hungarian government's negotiations with the IMF and EU, along with the news that HUF has dropped significantly against the EUR and Swiss Franc. At the time of writing the HUF is 314 to the EUR, which is an improvement of almost 10 points on the low...
  • Tower Moves to New Offices in Budapest
  • Tower has recently completed its move to new head offices in Budapest. After spending the last three years at our Revay Street office we have moved to larger premises on Vaci Avenue just across from the Westend City Centre shopping mall and Hilton Hotel. 

    The full address is: 

    Tower...
  • Hungarian Government Raises VAT to 27%
  • The Hungarian government as part of its plan to increase revenues to the exchequer has raised VAT by 2% in the new tax year. Which means that from January VAT on most goods and services rises from 25% to 27%.

    Tower's recurring fees will not alter however the increased VAT will be reflected in...
  • Hungary posts EUR 500 m trade surplus, exports remain steady
  • Hungary has posted yet anther massive trade surplus of EUR 497.4 million in October, the ksh has reported on Friday. The accumulated balance stood at EUR 5.95 bn at the end of the tenth month. Although the European business cycle is palpably slackening and Germany’s export performance is worsening...
  • Gas Check Season
  • As you know we are now entering the winter months. Which in Budapest can be relentless, with the cold conditions only easing about mid-March. Every year, not only in Hungary, it is advised by the authorities that those residences with gas heating equipment are checked for functionality and safety. However...
  • Record Rental Figures for August / September
  • Good news for landlords. It seems that the rental market is holding up in terms of activity. In August and September Tower managed to rent 130 properties for its landlords, which is up about 10% from last year, and approximately 50% from 2009.​

    Tower's lettings manager Richard Vigh says the...
  • Tower Holding Seminar on Budapest Property Market in Dublin
  • The Tower Property Group will hold a seminar on the 13th of October in Dublin's Burlington Hotel. The purpose of the presentation will be to give Budapest property owners an overview of the current sales and rental markets in Budapest while also informing on Tower's own services to owner's of overseas...
  • Tower Opens New Client Services Office in Dublin
  • Dear Landlord,

    We are excited to announce the opening of our new Client Services office in Central Dublin.The office is located in Dublin 2, 28-32 Upper Pembroke Street. The purpose of the new office is to provide added customer service to Tower’s Ireland based clients and to facilitate the...
  • Lifeline to Swiss Franc and Euro Mortgage Holders
  • The Hungarian Parliament has just passed an important measure to help people with a CHF / EUR based loans.According to the new bill people with foreign currency loans such as Swiss franc or Euro can repay the balance of their mortgage on a favaourable fixed exchange rate. The Hungarian Parliament passed...
  • Lettings Season in Full Swing
  • Landlords will take comfort in that fact that lettings demand appears to be holding up in Budapest. Currently Budapest is benefitting from the annual influx of international students and others that take up residency in Budapest in August and September. In August alone Tower rented 80 properties, with...
  • Hungary VAT rise on the Horizon
  • Hungary is targeting to improve the 2012 budget balance by 750 billion forint, 200 billion forint more than planned, Economy Minister Gyorgy Matolcsy said.

    Of the planned savings, 450 billion forint will come from higher revenue, including a value-added tax increase to 27 percent from 25 percent,...
  • New Appointments
  • Tower is pleased to announce new key appointments in the lettings department.

    Richard Vigh
    Lettings Manager

    Richard Vigh, formally a consultant with CE Invest – Catherine Dickens properties has been appointed in September as Lettings Manager for Tower. Bringing a wealth of experience...

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