Millennium Residence in Budapest

Name: Sales in Millennium Residence started!
Start: 2022-06-15T06:39:24.282053+00:00
End: 2023-12-31T23:59:59+0000
Location: Millennium Residence

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Project info

Object ID: 20509

Finished at	December 2023
Price, m²	From 3200$
Housing class	Comfort
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 26.00 m²
Floors	10
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Kids playground Near school Near kindergarten Near supermarket Near hospital
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Personal discount certificate 300$
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Return on investment for apartment

with price

8,103$

Rental income

1,103$

Management

689$

Utilities

405$

5% Income tax

5,906$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	32%	10	25$	250$
February	28	35%	10	25$	250$
March	31	25%	8	27$	216$
April	30	26%	8	35$	280$
May	31	51%	16	35$	560$
June	30	80%	24	38$	912$
July	31	87%	27	55$	1485$
August	31	87%	27	70$	1890$
September	30	66%	20	45$	900$
October	31	64%	20	35$	700$
November	30	40%	12	25$	300$
December	31	38%	12	30$	360$
Total	365		194		8103$
Average		52%		37$

Total invested

83,200$

Net profit

5,906$

Payback period

10.3 years

Avg property value increase per year

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About the project

Structural work is now taking place on the 7th floor. Masonry work is taking place on the 4th floor, while mechanical and electrical work has reached the 2nd floor. The installation of windows and doors has begun on the 3rd floor.

Millennium Residence by Cordia is located on Pápay István Street in the 9th district, a quiet side street just off Soroksári Road. The Haller Street stop for tram No. 2, the 23, 54 and the stop for the 55 buses and the 918, 923, 979 and 979A night buses are just a three-minute walk away, while the Boráros Square 4/6 tram stop and the M3 Klinikák and Nagyvárad Square metro stops are all just a 10-15-minute walk away.

Residents of Millennium Residence can take advantage of an extensive range of leisure opportunities in the local area. Lovers of concerts and plays can enjoy the variety of programmes on offer at Müpa Budapest, the Ludwig Museum, the National Theatre and Budapest Park. The Dandár Thermal Baths are just two streets away, while the Danube riverside Gizella promenade, complete with cycle lane, is easily accessible from the building. The Kopaszi Dam park is also within reach.

The Millennium Residence residential building has a stylish, minimalist façade. The nine-storey building contains 306 modern smart homes, ranging from studio to five-room apartments, with penthouse apartments on the top floor. All of the apartments have either a balcony or garden access, while the two-storey underground garage provides secure parking for residents.

Developer

Cordia is a subsidiary of the highly capitalised, Hungary based Futureal Group, one of Central Europe’s 10 largest property development and …
Details about Cordia