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Seventh heaven in Budapest for student rental income
Brenda McNally



OVERSEAS investors looking for guaranteed returns but not necessarily the longterm commitment required of the popular French leasebacks will be interested in G7 Residences in Budapest.

Situated in a prime location in District VII and close to the main universities, this hotelstyle scheme has been designed to provide student accomodation.

Developed by the Emerald Property Group, the European arm of the Irish property developers Michael McManus and Peter Stritch (Bellisle Properties), purchasers will be offered 5%pa net guarantee for five years.

Available as a turnkey package with full interior fitout and including all fees such as management/rental costs or service charges etc, investors are free to sell at any stage with the proviso that the units are first offered to the developer.

Situated in District 7, which is the equivalent of buying in Rathmines/Portobello area, the G7 Residences are in a strong letting area for students and is also a good location for capital appreciation according to the selling agent Lowe & Associates.

Due for completion in September 2007, the 109-unit development is comprised of studios as well as one and two bed apartments. Prices are based on individual room sizes with studios ranging from Euro70,000-Euro75,000; one beds from Euro120,000-Euro130,000 and two beds from Euro175,000Euro195,000.

The development also includes a restaurant/cafe bar, large courtyard/garden, underground parking and conceirge service.

Price: studios from Euro70,000-Euro75,000 Agent: Lowe & Associates, 01 496 0501




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