Evaluating Indicators for Renewal of Properties via Gentrification in Budapest

Gentrification in Budapest's Andrássy Avenue, part of the UNESCO World Heritage site since 2002, drives property prices up significantly post-architectural renewal but leaves flats in poor condition unaffected. The study identifies three key research indicators—economical, social, and architectural—to model gentrification impacts using descriptive statistics and factor analysis. It reveals that young, highly educated residents are drawn to renewed areas like Liszt Ferenc Square, while facility managers must tailor maintenance budgets to the social profiles of property owners. The case study of a renewed residential palace in Teréz Town underscores how rent-gap dynamics and functional shifts shape urban renewal processes.

Róka-Madarász, L., & Mályusz, L. (2013). Evaluating Indicators for Renewal of Properties via Gentrification in Budapest. Open House International, 38(2), 66–75. https://doi.org/10.1108/ohi-02-2013-b0007