HATC SAMPLE EDITION:    Politics & Foreign Relations    Economic News    Business News    Other News of Interest    All stories	31st October, 2024 Gov’t pays above market rate for Ft 450mn property The government has purchased a 96-square metre apartment on Budapest’s Vértanúk tér, near Kossuth tér, for Ft 450 million. According to HVG, the sale price, at near Ft 4.5 million per square metre far exceeded the market average for the area. The government justified the move as necessary for preserving the national heritage as it exercised its right of first refusal to buy properties in World Heritage or protected zones. The Central Statistics Office recorded an average price of Ft 2.3 million per square metre in the district in 2022, while a similar property recently valued by the Fidesz-led district municipality was priced at Ft 1.5 million per square metre. The property’s former owner, DRW-Invest, profited considerably from the sale. The apartment, largely unused except during national holidays, reflects a broader trend of the state acquiring prime properties, Telex writes, as the government has exercised this right of first refusal seven times since 2022, including a notable Ft 3.6 billion purchase in Buda. Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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