Relocation Guide - Add Budapest to Your Tax Career Portfolio
We know moving to a foreign country requires a lot of balanced decisions. That's why we've created an invaluable housing guide for tax professionals, from a selection of Budapest’s 23 Districts, with all the latest relocation advice from the Hungarian capital. We cover some of the city’s districts popular amongst expats and the pros and cons of each.
Accommodation in Budapest is far more affordable than in many other European capital cities. With a range of housing options, varying rental prices and distinct atmospheres offered by each district, Budapest offers a home to everyone.
Buda and Pest
The most notable feature about the city is the divide created by the Danube river. Whilst you can find Buda on the western bank of the Danube, Pest is situated on the opposite bank.
Formerly two separate cities until 1873 when they were merged, the distinctiveness between Buda and Pest is still noticeable to this day. Read more to uncover the most popular areas amongst expats and assess which district is best suited to you.
Away from the hustle and bustle of the city centre, Buda is a quieter, more residential area home to many locals. With large suburban houses, many of which come with gardens, and host to a variety of international schools, Buda is ideal for expats with families.
Properties in Buda tend to be more expensive than many of the districts in Pest, however, the higher rental and property prices are counterbalanced by the beautiful architecture and the extra space and gardens.
Also known as Újbuda, district 11 is a wealthy residential area and the eighth most populated district. As well as offering plenty of 1 and 2 bedroom flats and modern apartments, luxury villas and expensive family homes can also be found especially within the the Sashegy and Sasad areas. For expats who seek tranquillity and like the outdoors and climbing, this hilly district is the ideal place to relocate. With Móricz Zsigmond körtér square and Gellért Square serving as the principal transportation hubs, residents can hop on buses and trams to go into the city centre of Pest, making the daily commute to work a breeze!
Budafok-Tétény is located southwest of Buda and is commonly known as “the town of wine and champagne” given the district’s many major champagne and wine manufacturers. Although quieter and more peaceful than Pest, you can still enjoy dining in lots of restaurants and the limitless shopping opportunities available as well as stunning views of the city. Rich with educational resources, district 22 is the perfect area to relocate to for expat families given the numerous early childcare services and primary and secondary schools within the area.
In contrast, Pest offers a commercial, lively city centre where young professionals and tourists alike can be found enjoying the vibrant social life and numerous bars, ruin pubs and fashion boutiques. Housing types in Pest tends to be mostly apartments.
The main central districts popular amongst expats are 5, 6, 7 and 13 and are host to many sights, including, museums, shops and hospitality establishments.
If you like city centre life and relish living amongst a lively atmosphere with great buzz, then district 5 is the place for you! Beside the financial and banking area, popular shopping centres, cafes, bars, clubs and the main tourist spots including St Stephen’s Basilica and the Hungarian parliament buildings, district 5 or Belváros, is a very busy area especially during high tourist season.
Located within the heart of Budapest, housing tends to be mostly apartments and property prices are generally more expensive despite the sizes of apartments being considerably smaller than in other districts. For instance, you can expect to pay around 700 EUR for a 1 bedroom apartment in this district but 5,000 EUR for a 3-4 bedroom penthouse on a monthly basis.
Also known as Terézváros, district 6 is ideally suited to cultural entertainment enthusiasts. As well as the daily entertainment provided by the Music Academy, the State House Opera and the Broadway of Budapest, residents can also enjoy relaxing strolls down Andrássy Avenue – a long leafy boulevard lined with neo-renaissance mansions, spectacular theatres, luxury fashion boutiques and cafes, named as an UNESCO World Heritage Site.
Property prices are similar to those in district 5 with long term rental prices varying between 700 EUR to 5000 EUR. Although one of the most charming and elegant districts, small lanes and side streets of Andrássy leads you to more deprived areas where several loud bars can be found.
Once home to Budapest’s Jewish population, Erzsébetváros is now famous for being Budapest’s party district. With plenty of lively bars, ruin pubs, hip cafes, fancy clubs, gourmet street food and shops, this trendy area is popular amongst young expats who enjoy living in a vibrant, fun atmosphere.
With cheaper rental prices than district 6, district 7 is ideal for those who don’t have the financial resources to rent a property in the Financial District and Diplomat Quarter yet want to live near downtown.
A popular location for many young families and business professionals, this peaceful middle-class residential area is an ideal place to settle if you enjoy tranquillity yet want to be close to the city centre and the Danube river.
Close to the business district and home to many international companies, rental prices vary from 1200 to 2000 EUR whilst apartments for sale range from 2500 EUR to 3000 EUR per sqm. District 13 or Újlipótváros, features classical style apartment buildings and modern high-rise apartments.
For more information and advice on relocating to Budapest, read our other guides - An Executive Guide to Living and Working in Budapest and 6 Reasons Why Expats Are Relocating To Budapest.
If you are interested in a move to Budapest or anywhere else in the world and would like to speak to Kingpin International about International Tax Opportunities, please contact a member of the team. Alternatively, please browse our current International Tax vacancies.