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Remember the old addage? The three most important things to consider when buying property: Location, Location, Location. It is the same in Budapest. Here is a brief summary of the most popular districts and those up and coming.
With the central business district, main central shopping area and most universities in district 5 and 11 it is recommended that apartments for rental purposes be purchased in districts 1, 5, 6, 7, 11 or 13.
For the purchase-refurbish-sell deal, the quickly developing districts 8 and 9 are also highly recommended. It is not enough however to go by districts, as the prestige of smaller neighborhoods greatly vary.
Each of these areas is well serviced by tram, bus and an underground metro line and most, with the exception of district 1 and 11 are located on the Pest side of the Danube.
The most desirable part of the city is the central District 5, followed by the rapidly developing western areas of District 6, which has undergone something of a renaissance in recent years, especially the streets near
Andrassy ut. Other areas with investment potential include the central end of District 7 as well as parts of the rejuvenated District 9, particularly around Raday Street.
The 6th district boasts the famous Andrassy Boulevard, Heroes' Square, the trendy Oktogon and Liszt Ferenc Squares with their cafes and restaurants, a favorite area among foreign tenants.
The 7th district, the traditional Jewish Quarter behind the Great Synagogue, has seen tremendous investment recently, with buildings renovated rapidly and parks cleaned up beautifully.
The 8th and 9th districts are where the universities are located with many foreign students who are looking for apartments to rent, especially along the blue metro line.
The 9th and 13th districts have seen a lot of new development projects recently.
The other side of the Danube (Buda) is best for buying land and developing, not so much for "second hand" apartments, although the 11th district in Buda resembles Pest the most in this respect.
