Castlewood invites Indian buyers to Hungary

NEW DELHI: London-based real estate developer Castlewood Investment Properties on Saturday invited Indian buyers for its housing projects in Budapest, Hungary.

"Even if there is a slowdown, it is just a phase. This is the right time to invest in properties in Budapest as the city has seen a price appreciation of 18-20 per cent annually," Castlewood Managing Director Christopher N Comer told reporters here.

The company would offer housing units starting at 70,000 euros for a one bedroom apartment.

"The investor has to put in at least 70,000 euros (about Rs 44 lakh) and will get a one bedroom unit. He can expect returns at six per cent per annum," Comer said.

Asked if the company was looking at opportunities in India, Comer said, "We are very excited about the Indian market. We have partnered Land Solutions here and are looking at a project in Pune."

He, however, said the company did not have any plan to enter the Indian property market directly.