BALATON BOUTIQUE APARTMAN****

Year: 2021

Location: Northern shore of Lake Balaton

Size: 70 sqm + terraces, 450 sqm private garden

Investment: 3-6 million HUF

Time invested: 2 months (+ garden)

Rented out: Fully booked from opening throughout the season

Expected selling year: 2025

Expected selling price: +260%

The Building

We developed one of the units of a family house located 200 meters from the shore of Lake Balaton. We transformed it into a fully-equipped, practical, and livable home with two bedrooms, a large kitchen fully equipped with appliances, and an outdoor sauna. According to the plans, it operates as a year-round private accommodation for 5 years, after which the property will be put up for sale. Its owner can then use it as a permanent residence, a holiday home, or continue renting it out as an apartment.

Benefits and Drawbacks

The property boasts a large, spacious, airy plot, facing a forest with vineyard-covered hills just a few hundred meters away, offering a view of Lake Balaton from the garden. The external rendering of the building and the external windows were already completed, and the interior walls were erected, while the electrical and water networks were still in a modifiable state. We installed interior doors, floor coverings, sanitary fixtures, decorative moldings, and lighting fixtures, and furnished the building according to the primary goal.

The only drawback is that neighboring houses are still under construction, occasionally causing noise outside of working hours in an otherwise peaceful, nature-rich environment with delightful bird chirping. However, this also means that the surrounding houses are all newly built, attractive, and modern, with developing well-maintained garden areas.

Finding the Ideal Target Audience

The accommodation has been rated 4 stars by experts, equipped with practically every expected amenity and even beyond, including countless small details and practical solutions for short-term stays (3 days to 2 months). It caters to families and groups of friends who enjoy nature and outdoor sports, offering a higher-priced, quality accommodation option.

Lesson Learned

Investing in a property in a developing area is a great idea as its value increases with the level of completion, and the price level of the surrounding area continues to rise. It's relatively easy to find professionals in such locations, and people are generally more tolerant during renovation/construction processes.

There can be multiple objectives for preparing a property, and it's possible to design it from the beginning to meet both short-term and long-term goals.

Careful and thoughtful design, along with numerous added extras that facilitate tenants' everyday lives and serve as a gesture of thoughtfulness, always pays off.

Returning guests occupy the majority of the places from the first year.

You can read more about the apartment on its website: https://www.lunarossa-balaton.eu