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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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• Hungary 2000
  
• Hungary 2000, 2
  
• Hungary 2001
  
• Hungary 2003
  
• Hungary 2004
  
• Hungary 2005
  
• Hungary 2006
  
• Hungary 2008
  

In May 2004 Hungary became EU member and suddenly came into focus of Western attention as if the mere fact of membership made the country more interesting, more attractive, more "western". In fact the EU membership didn't change radically the real estate market situation. The prices that are going up in Budapest for so many years don't appear to stop their progressive although slowing down development. Different areas of the capital city offer properties between EUR 900 and 1,400/sq.m. This is less than Prague but much more than Bucharest or Sofia. 10-20% annual increase is still possible with gradually slowing down trend. The provinces with their much lower prices and their relative proximity to the capital city perhaps offer better opportunity for capital returns in long-term.

Right now foreigners own more than 8,000 apartments in Budapest only, out of 700,000. Some of them really want to spend many years enjoying life in Hungary. For others this is considered only as temporary investment until the market stops offering lucrative annual returns. Their look is now turned toward less developed southeast neighbors of Hungary, Romania and Bulgaria with their more moderate prices and better growth rates. Development in these two countries may influence Hungarian real estate market in two opposite directions. If Romanian and Bulgarian real estate boom proves to be solid, which is doubtful in long-term, this may have negative consequences in Hungary, withdrawing partly the foreign investments made only for profit. If as we expect Bulgaria and Romania find difficulties keeping the higher rates of growth then Hungary may again experience almost exclusive interest in this part of Europe as a safe place for investment.

One thing is certain. Beginning market reforms much earlier than its southeast neighbors, Hungary is already harvesting fruits of its earlier sowing. Being part of the western Christianity for 1,000 years, this country is viewed by the western investors as culturally closer to their world, although this may be doubtful after half a century of communist experiments. The negative attitudes of the local population towards the western investors and their "big money" clearly show that cultural patterns change slower than political structures and laws directing economy.

Hungary country profile:

• Area: 93,030 sq km
• Population: 10 million (July 2004 est.)
• Population growth rate: -0.25% (2004 est.)
• Life expectancy at birth: 72.25 years
• Ethnic groups: Hungarian 89.9%, Roma 4%, German 2.6%, Serb 2%.
• GDP per capita: purchasing power parity $13,900 (2003 est.)
• Main trading partner: Germany.
• Internet users: 1.6 million (2002)

(Source: CIA - The World Factbook 2004)

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See also the directory of companies providing real estate services in, and general real estate information of Hungary.