#Sotheby's #Budapest #Hungary #Luxury Realty

Sotheby's International Realty Expands to Hungary

Sotheby's International Realty has officially announced the opening of its new office in Hungary, named Hungary Sotheby's International Realty. This marks the prestigious real estate company's 197th operation in Europe, demonstrating its commitment to expanding its footprint across the continent. Headquartered in Hungary's capital city, Budapest, the new office aims to cater to the luxury residential market throughout the city, its surrounding regions, and the popular Lake Balaton area, often revered as the “Hungarian Riviera.”

The ownership of Hungary Sotheby's International Realty falls under Andrew Manukovski, a prominent figure in the real estate industry with over 30 years of experience. He will jointly operate the office alongside CEO Viktoria Toth. Interestingly, Manukovski is also the owner of other Sotheby’s offices in Kazakhstan and Cyprus, which showcases his extensive involvement in the luxury real estate market across Eastern Europe.

Philip White, the president and CEO of Sotheby's International Realty, expressed his enthusiasm regarding the opening. He noted that Hungary's luxury property market has seen significant growth, driven largely by robust demand from both local and international buyers. Budapest, with its stunning architecture, rich cultural scene, and an emerging culinary landscape, presents competitive real estate opportunities compared to other European capitals. White underlined that Hungary's advantageous tax framework further positions it as an attractive market for discerning buyers.

In addressing the unique attributes of Hungary’s real estate market, Manukovski stated, “The offerings are as diverse as they are distinguished.” From charming castles and elegant estates to vineyard retreats and picturesque lakeside escapes, Hungary provides exceptional opportunities for selective buyers. He highlighted the rich historical charm of Budapest juxtaposed with the serene beauty of Lake Balaton, indicating a bright future in marketing these exceptional properties to a global audience. Manukovski is committed to bringing integrity and expertise to the real estate experience in Hungary, raising the bar for both buyers and sellers.

The Sotheby's International Realty® network is a massive entity, currently housing over 26,200 independent sales associates across 1,100 offices in 85 different countries and territories around the world. The listings from Hungary Sotheby's International Realty will be openly marketed on the global platform sothebysrealty.com, enhancing visibility and referral opportunities. Additionally, brokers and clients can benefit from the extensive marketing programs associated with Sotheby's auction house, further elevating their real estate efforts.

Founded in 1976, Sotheby’s International Realty initially served clients of the Sotheby’s auction house, and it has grown to establish a vast global reach. The franchise system comprises a network of affiliates where each office operates independently, while still benefiting from the treasured brand resources and marketing support provided by the Sotheby’s name, established in 1744.

For the latest updates and further information, interested parties are encouraged to visit www.sothebysrealty.com.

In conclusion, the establishment of Hungary Sotheby's International Realty represents a significant milestone for Sotheby’s as it continues to expand its influence in the luxury real estate market across Europe, enriching the real estate landscape of Hungary and offering new opportunities for buyers and investors alike.