Budapest’s thirteenth district is becoming an increasingly popular borough of the Hungarian capital for investors looking to purchase flats in order to either flip or rent on a long-term or holiday basis.

The district is known for historic apartment buildings built during the first two decades of the twentieth century and once had a flourishing middle-class Jewish population.

During the Second World War, Swedish diplomat Raoul Wallenberg operated a number of so-called “safe houses” in this district, in which thousands of Hungarian Jews were saved from the Holocaust.

Today, the thirteenth district is one of the most sought-after locations on the Pest side of the river and this is especially the case for Ujlipotvaros, the area of the borough closer to the Nyugati Railway Station, Margaret Bridge and the River Danube.

Located a few minutes away from one of Budapest’s main ring roads—Szent Istvan Korut—this southern half of the 13th district is idea for those interested in purchasing a flat in a lively, but safe area.

The opening of the WestEnd shopping mall and the construction of a Hilton Hotel has jumpstarted a period of modernization for the district.

During this same time, chic new office buildings have sprung up along the previously sleepy Vaci Boulevard, turning it into a bustling new business centre and home to a range of banks and major multinational corporations.

Flat prices in the thirteenth district are, in general, intermediately priced. The majority of flats are between 60 and 100 square metres in size and the average price for one in good condition hovers between €60,000 and €80,000.