The 500-acre estate will even have its own vineyard!

Planned as an exclusive golf and country club resort, this development will have at its core a championship golf course designed by Robert Trent Jones Junior, which is being project-managed by Irish company Turfgrass Consultancy.

Also included in the resort is a 2000 square-metre (21,520 square-foot) natural thermal hot spring spa, golf clubhouse, village centre, shops, restaurants and leisure amenities such as a four-kilometre walking and cycling trail around the estate.

Built on an old farm, Zala is in the heart of Hungarian wine country, the Balaton region, and the developers have decided to keep the existing vineyard on the estate.

Work is already well under way on the golf course, while this first phase of homes, currently selling from plans, will comprise 197 apartments, townhouses and villas. The resort will be divided into spa, garden or golf homes, with 11 different unit types on offer.

Properties range in size from apartments of 64 square metres (689 square feet) to villas of 210 square metres (2260 square feet). Apartments are mainly one- and two-beds and include openplan kitchen with living/dining room, private balcony or terrace, bedrooms, bathroom and en suite.

Located midway between Vienna and Budapest, both less than two hours' drive away, Zala Springs is near Heviz, considered the centre of the thermal springs tourism industry in Hungary. The resort is about 15 minutes' drive from the new Fly Balaton Airport which has just undergone a 10m upgrade by Irish investors, and from next month onwards Ryanair will fly here via Stansted three times a week. Malev Airways is also planning new routes to the airport.

Plans for this new resort will be exhibited in Dublin's Four Seasons Hotel next weekend, while the scheme will be launched in Budapest, Vienna, London and Germany later this spring.

Selling agents at Central European Properties expect a strong response from investors, particularly since property in Hungary is set to appreciate when the country comes into the eurozone.

Prices start from 120,000 for a garden apartment, with golfing villas costing around 350,000. Investors are guaranteed a 5% annual rental income. A 10,000 booking fee is payable to reserve a property at Zala Springs, with an additional 30% payable at the signing of contracts. Up to 70% financing is available for Irish investors .

CEP Properties 087-2057716 Exclusive Balaton Ltd 01-7998333