IN GELLÉRT HILL, NEAR THE CITADEL – 4-APARTMENT CONDOMINIUM / 1,698 SQM DEVELOPMENT PLOT WITH EXISTING RENTED APARTMENTS – CHARMING GARDEN ON THE LOWER LEVEL, PANORAMIC VIEW FROM THE UPPER FLOOR

CITYCARTEL presents this exceptional property on Gellért Hill, just minutes from the Citadel, located in one of Budapest’s most valuable, prestigious, and sought-after neighborhoods.

The property sits on a 1,698 sqm plot rich with mature trees and a unique atmosphere, featuring an approximately 360 sqm, 80-year-old residential building currently in use. This building can be renovated, expanded, or even replaced with a new structure after demolition.

This Gellért Hill development opportunity offers a prestigious plot in a prime urban location that provides immediate rental income, long-term value appreciation potential, and premium repositioning possibilities.

KEY DETAILS
Plot size: 1,698 sqm
Current house size: approx. 360 sqm
Current condition: 80 years old, to be demolished or renovated
Current layout: 4 apartments
3 apartments renovated and currently rented
Buildable area: 15%
Underground buildable area: 25%
Allowed number of floors: total 3 floors
Existing building: 2 floors with potential for an additional floor
Free of encumbrances
Slight waterworks easement on site
Right of first refusal due to local characteristics

CURRENT LAYOUT
The house currently comprises 4 separate apartments:
Lower level:
approx. 35 sqm studio apartment
approx. 168 sqm larger apartment
Upper level:
approx. 55 sqm apartment
approx.135 sqm apartment
Three of these apartments have been renovated and are rented out, allowing the property to generate income even during the development period.
This is a particularly valuable advantage for investors seeking not just an empty plot but a functioning income-generating Gellért Hill property with significant development potential.

DEVELOPMENT POTENTIAL
One of the greatest values of the property lies in its versatile usability.
Possible options include:
renovating the existing building,
creating a modern, premium residential building,
adding an additional floor,
constructing a completely new house,
realizing an exclusive multi-apartment condominium concept,
developing a private residence, multi-generational family home, or an investment residential project.

The current owners originally envisioned a 6-apartment premium residential building on the site, with 2 apartments per floor sized roughly 110–140 sqm, including ground-floor garage, gym, laundry room, and a large rooftop terrace, potentially with a pool.

This concept perfectly matches the prestigious location:
Gellért Hill, panoramic views, green surroundings, private atmosphere, premium apartments, rooftop terrace, wellness lifestyle – exactly the combination in demand on Budapest’s upscale market.

WHY IS THIS PROPERTY SPECIAL?
Gellért Hill is one of Budapest’s most stable, prestigious neighborhoods. Here, you’re not just buying square meters but a position, tranquility, greenery, urban elegance, and long-term value retention.
The proximity to the Citadel, the Buda hills environment, quick access to downtown, and the plot size together create a rare combination on the market.

This property is ideal for:
developers,
investors,
those considering premium condominium projects,
multi-generational families,
buyers seeking embassy, diplomatic, or exclusive residences,
and anyone looking for a large, future-value plot on Gellért Hill.

FROM AN INVESTOR’S PERSPECTIVE
The property is already in use as three of the four apartments are renovated and rented, which can reduce holding costs while the buyer prepares future development, permitting, or renovation plans.
However, the greatest value lies not in the current building but in the plot, location, building potential, and Gellért Hill’s prestige.

Such a property can bring value from multiple sources over the long term:
rental income from existing apartments,
development potential,
creation of premium new apartments,
generous plot size on Gellért Hill,
value-retaining Buda location,
high-status buyer base,
exclusive rooftop terrace and panoramic view possibilities.

IMPORTANT LEGAL AND TECHNICAL INFORMATION
The property is free of encumbrances, with a minor waterworks easement affecting part of the area. Due to the neighborhood’s unique status, a right of first refusal applies.
Building, renovation, and floor addition possibilities are subject to current local building regulations, official consultations, technical inspections, and architectural planning.

SUMMARY
This Gellért Hill property is for those seeking something beyond the ordinary.
It is a pleasant-sized, prestigious plot with development potential in Buda, currently hosting a multi-apartment building, partly renovated and rented out.
Whether you wish to retain and renovate it or envision a new premium residential project, the foundations are exceptional:
Gellért Hill. Close to the Citadel. 1,698 sqm plot. 360 sqm existing building. Rented apartments. Development opportunity. Potential for rooftop terrace and pool luxury concept.

The images in the listing are created using artificial intelligence.

For more information, technical details, and personal viewing, please feel free to contact us.

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