Saloc International Spa & Golf Resort
Investors and Travellers hungry for Hungary
Hungary is fast moving to become one of the most up-market destinations in Eastern Central Europe for discerning travellers and investors looking for something different.
Whilst Continental Europeans have been heading to enjoy the thermal spa waters, good wine, culture, history, and low costs for more than 20 years, one of the latest developments is already attracting great interest from around the world.
Saloc International Spa and Golf Resort development in the Egerszalok region has been actively promoted by the Government as a 'Project of National Significance' by the Ministry of National Development and Economy.
A ground breaking ceremony last month attracted not only Government officials and the local Mayor - a keen advocate of the resort - but also international investors from as far away as Japan and Hong Kong.
Whilst there are many overseas developments to choose from, Saloc offers significant options for interesting returns.
The Buying Process is Simple:
- Select your unit and complete the reservation form
- Pay £500 reservation deposit, which is refundable, within 28 days
- Exchange within 30days, paying 50% deposit of £47,000 (hotel suite) and £72,500 (family suite)
- Receive 5% interest on your deposit years 1 to 3, and 5% in years 1 to 3o on your deposit to draw down developer loan
- In years 4 to 10, 10% NET Assured return on the purchase price.
With a single cash deposit of only £47,500, it is less than a third of the price of other popular European resort destinations.
Construction of Saloc Will Start at the Beginning of May
EC Harris, the world renowned asset build consultancies and construction company in charge of the build and project management of Saloc are poised to commence the build at the beginning of May.
They were ready to go much earlier. However, there was a hold-up with the EU requiring a site environmental impact study.
Thus, EC Harris have spent their time wisely putting all the utilities and infrastructure plans in place.
Construction of Saloc Spa & Golf Resort will complete in early 2016.
Backing of Saloc from the British and Hungarian Governments
Not only is Saloc getting support at every level of the Hungarian government from the local mayor of Egerszalok Additionally, the British Ambassador to Hungary in Budapest, Mr John Knott, is giving the Embassy's full support to Saloc. Istvan Fazekas, Saloc Director, was invited to a meeting with the British Ambassador John Knott on Monday 9th December.
The Ambassador is also impressed with how Saloc works closely with the Hungarian Government and has earned the backing of the Government at every level from local council to the National Government in Budapest.
The Ambassador has identified Saloc Spa & Golf Resort as a model for other UK companies to follow when investing and doing business in Hungary.
Therefore, the Ambassador and the British Embassy are giving their full support to this endeavour and will be liaising with the Hungarian government on this.
With a single cash deposit of only £47,500, it is less than a third of the price of other popular European resort destinations plus significantly higher returns.
I was asked by the developer to come out to Hungary and get my views on the resort before its launch.
Hungary was not on my 'radar' and I really did not know what to expect. I was impressed!:
- Thorough due diligence had been done on this project by KPMG and EC Harris are the project managers, one of the largest project managers in the world, with a premier reputation.
- Saliris Spa Hotel, next door, is already achieving occupancy rates of just under 80% in only 3 years of trading, and the General Manager of Saliris Peter Nemes is going to manager Saloc. When I was over for the ground breaking ceremony, Mr Nemes told me that they had had to increase the hotel rates as they fully occupied. He is one of the most respected hoteliers in Hungary and understands medical wellness in the way a Marriott or Hilton could just completely miss the mark.
- Egerszalok where Saloc is located is the only location in Europe with a thermal calcium spa waters, which have proven medical benefits. Tourism to Egerszalok is increasing rapidly.
- The developers have a vision for this, and a real passion, and have the financial resources and 'know how' to build Saloc and make a success of it. This is buttressed by the Hungarian government backing Saloc from Garbor, the Mayor of Egerszalok through to National Government in Budapest.
- The countryside and cities in Hungary are beautiful, as is the countryside. The food and wine are excellent. The Hungarian people are friendly and hard working. Plus the cost to buy a hotel suite at Saloc is less than one third of price of other popular European destinations.
The resort will be a year-round tourist and second home option as well as medical tourist centre - its highlight being its natural calcium spring - one of only three thermal spas in the world. The 67-degree bubbling waters have proven to be of medicinal benefit for numerous conditions, including arthritis.
And early signs look as if it is set to put Hungary firmly on the medical tourism, health spa map.
It will be a 4-star resort and will comprise a family hotel complex with 254 suites. The first 103 hotel and family suites will complete in 2016.
Saloc will also attract those looking for action - golf, tennis, horse-riding, walking - plus wine lovers as Eger is a very good wine region, supplying to the Royal Wedding two years ago. The most famous wine produced here is Boar's Blood, which has an interesting history dating back to the 16th century.
Egerszalók, a village with a population of about 2,000, is just over an hour's drive from Budapest airport, fast becoming a central hub for travellers around Europe. It is close to the Blue Mountains - from Saloc, visitors can enjoy a panoramic view in every direction across unspoilt countryside with upland plateaus, thick pine forests and abundant wildlife.
Blue Mountains - from Saloc, visitors can enjoy a panoramic view in every direction across unspoilt countryside with upland plateaus, thick pine forests and abundant wildlife.
Hungary has been attracting more than 10 million visitors a year in recent years - a result of the government's action to push the best there is, not only to surrounding countries but also worldwide.
Clever Overseas Investors Are Now Buying Properties in Hungary
Hungary entered TheMoveChannel.com's top 10 property destinations for the first time in November 2012.
Jean Liggett, Director of Properties of the World, was interviewed by TheMoveChannel.com in December and asked about her views on the Hungarian property market.
"It is not surprising that Hungary has popped into the top 10. Unlike the traditional second home investments including Spain, Portugal and Florida, Hungary has a stable property market where there are no big peaks and troughs, just a very steady growth.
"Importantly, the growing middle classes in Hungary and its seven adjacent countries of Austria, Slovakia, Ukraine, Romania, Croatia, Serbia and Slovenia make Hungary an ideal holiday destination as well as an investment opportunity. The middle class of this region like to go on holiday and buy properties in their back yard."
The Hungarian government is also focusing on boosting tourism to attract investment into the country, Liggett adds.
"With Hungary, one is buying into a whole new culture that is unique in Europe. Thermal therapeutic waters there have created a medical and wellness tourism, which, along with the history, wine and friendly locals, will help Hungary to grow in popularity over the next decade.
The Heves region (where Saloc is) in Hungary, famous for its thermal calcium waters and popular Hungarian spas resorts is generating 1 in 4 enquires on the international property portal, the Move Channel.
Home to Europe's only Salt Hill and Spa which has been a long-standing tourist attraction, originally, the spa was a natural formation of small thermal ponds within the forests of Egerszalók.
The spa consists of 17 indoor and outdoor pools with a total water surface of 19,000 sqm.
Back in the 1950s the Hungarian government was digging for oil in the region and instead found thermal water, according to Istvan Kazekas Director Saloc KFT.
Traditionally, these thermal pools were mainly visited by Hungarians but due to significant development and building of spa structures, it has begun to attract a large number of tourists from a wider region and all over the world, including. Russia, Ukraine, Scandinavia, Germany, Croatia and Romania.
Garbor, Mayor of Egerszalok, believes the area is fast climbing the ranks as an interesting holiday destination - the Hungarian Tourist Authority statistics show the area has jumped up the ranks by two places.
Hungary is one of the 30 most popular tourist destinations in the world, attracting 10.2 million tourists a year. The country is home to the largest thermal water cave system and the second largest thermal lake in the world (Lake Héviz), the largest lake in Central Europe (Lake Balaton), and the largest natural grasslands in Europe (Hortobágy).
The thermal waters combined with the salt mountains are unique in Europe, and indeed many doctors prescribe this for treatment.
There are only two other places in the world that have a combination of the salt and natural thermal waters, Yellowstone National Park in the US and Turkey.
This is a growing market due to an increasing number of people seeking alternative health treatments across the world, an ageing population across the world, and a growing middle and moneyed classes in the Central and Eastern European countries.
Egerszalók´s main attraction is the thermal source springing from the depths of the earth in the south of the village and the salt hill created by the water flowing down the hillside.
The salt deposits from the 65-68ºC medicinal water extremely rich in minerals continuously build the scalloped, white formations, which are such an impressive sight. The calcium-magnesium bicarbonate medicinal water also containing sodium and metasilicic acid has been given one of the best ratings in the category of sulphurous medicinal waters. The water was classified as medicinal by the health ministry in 1992.
Over the years the salt hill thanks to its unique characteristics has become the symbol and trademark of the local area.
Similar natural formations can only be found in two other places in the world: in the Asian part of Turkey in Pamukkale‚ and in the Yellowstone Park in the USA.
In Europe it is unique!
The Eger region is famous for its wine production and its exciting climate created by the cold and warmth helping enhance the flavours that emanate from the soil and attributing to the fruit characteristics associated with Eger wine.
The Eger wine region consists of 6,040 hectares of vineyards, which is divided into two districts and includes Eger and 19 villages. It is famous for its full bodied red blend and for a fantastic selection of whites.
- 4 Star Luxury International spa and family resort
- Free usage every year to 'get away from it all' and experience the amazing benefits of the thermal salt spa for yourself
- Experienced management Company in place
- Health and Wellness spa centre
- Playgrounds and Petting Zoo
- Golf course
- Tennis academy
- Equestrian centre
- Football academy
- Access to Europe's only Thermal Salt Spa