A co-operation with One World will allow Malev to offer customers a broader network route, together with opportunities to earn and redeem frequent flyer miles across the combined One World network. It represents a significant step in attracting tourists and Hungarian property investors.

"Any steps that align Hungary to world market influences can only serve to benefit the property market," Ida Krysta of GLM Hungary commented. "Malev joining the One World alliance shows that it is prepared to move with the times, and this can only bring benefits to their customers, be they new or old, and as such expand its profile in the flight market. This will be advantageous to the Hungarian property market, as the country begins to open its doors to low cost flights."

Malev is based in Budapest, where the Hungarian property market is at its strongest. A luxury apartment in the city, in a development such as Avenue Gardens, will set you back approximately £133,000. The development is available through International Horizons and is located in Andrassy Avenue, Budapest's equivalent of the Champs Elysees. It includes an indoor swimming pool, wellness centre and 24-hour concierge and security service.

But Budapest isn't the only Hungarian region set to benefit from expanding airlines. "Further inroads have been made with Ryanair opening up its Balaton route from Stansted, with further expansion planned later this year when Liverpool is added to the Balaton route," said Krysta. "Also, with a planned new airport due to open later this year at Veszprem which is on the north side of Balaton, the area will be well served for flights."

GLM is currently offering building plots on the north shore of Lake Balaton. The plots will benefit from good local infrastructure, as well as access to a nearby 18-hole golf course. They are selling at £55 per square metre, and are likely to represent a sound future investment.

"We at GLM are finding that clients seeking an alternative to the existing European favourites such as Spain and France are now turning to Hungary, with its secure land registry system," Krysta observed. "Expanding travel links are now producing a steady increase in Hungarian property prices, coupled with a refurbishment opportunities akin to the ones in the UK market in the late 1960s and 70s."

She predicts a dramatic rise in Hungarian property prices as the country adopts the euro around 2011.

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Related Hungarian property articles:
Property in Hungary emerges
Hungarian property is a Wynner!

Article first published 12th April 2007