The Habsburgs regained control at the end of the seventeenth century and unification of Buda and Pest happened in 1872 with the original name Pest-Buda. After World War 1 Budapest became the capital of Hungary. Budapest was badly damaged during World War 2 and a lot of rebuilding had to be completed.
Today Budapest is a major city that attracts visitors from around the world. The Fishermans Bastion monument in the Buda district offers on the best views of the city.
On the right bank of the Danube is Pest, the commercial capital of Hungary. Vaci utca is a popular shopping street between the inner ring and the Danube.
Margaret Island is in the middle of the Danube and reached by the Margaret Bridge.
On the left bank of the Danube is the Buda and is a hilly areas. Obuda is also on the left bank of the Danube.
Budapest, the capital of Hungary is the country's largest city and is its prime political, cultural, commercial, industrial, and transportation centre. 3rd out of 65 cities on Mastercard's Emerging Markets Index (2008), Budapest was rated the most livable Central/Eastern European city on EIU's quality of life index (both 2009 & 2010). Forbes listed it as "Europe's 7th most idyllic place to live". Over 20 million visitors a year come in to savour its sights and tourism provides a major source of income.
Investment in Real Estate: Over 20 reasons, as cited by gatewayproperties.co.uk support Budapest’s claim as an excellent place to invest in real estate, prominent among which are:
1. Budapest is indubitably one of the world’s most astounding cities. Investment in, and beautification of the city is an ongoing process.
2. Budapest, the ‘Paris of the East’, has comparable high-end property available at 20% or less of the cost of those in Paris or London.
3. In Sept 2007, the EU approved a total of €25 billion in EU funds to be invested in Hungary over the next 6 years to accelerate economic growth in the country.
4. EU experience shows that each €1 of public funding is matched by at least €1 of private sector investment, a key factor in growth acceleration and investment attraction.
5. A very tax efficient investment, with development the primary objective.
6. Hungary, as a country, is concentrating on infrastructure development.
7. EU funding will release stored up growth in Hungary’s economy. Economists expect the stimulating effect of funding to be similar to the boom experienced in Ireland in the late 1990s.
8. The Sept 2007 Global Political Risk index, published by the Eurasia research group, places Hungary as the most stable emerging market country in the world.