The process of urban regeneration in Budapest: Approaching 2030

Assunta Martone, Marichela Sepe and Maria Immacolata Simeon

Journal of Urban Regeneration and Renewal, 2017, vol. 10, issue 3, 286-300

Abstract: During the last 20 years the large cities of Eastern Europe had to face the reindustrialisation of their territory and economic restructuring, leading to migration and urban expansion into the surrounding countryside. These factors led to no public coordination, where market forces could almost determine the plan of the city. The demise of the socialist state and the adoption of Western ideas left an ideological vacuum. In addition the financial crisis and the structural adjustments for entering the EU also played a role. Urban regeneration in Budapest was at first restricted to physical restoration, but later involved social and environmental aspects. This has led to the revitalisation of the central area aided by stronger housing policy. This paper describes the urban transformation underway in Budapest in just ten years which has created a more global society, with a new economy and major transformation in the organisation and structure of the urban space. The paper illustrates the phases of development – particularly housing policies and the Magdolna case – and the expected transformation of Budapest in the year of 2030. The conclusions focus on the initial results observed and on the challenges for 2030.

Keywords: Urban regeneration; Eastern Europe cities; public space; housing policies; Budapest 2030; Magdolna project (search for similar items in EconPapers)
JEL-codes: R00 Z33 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jurr00:y:2017:v:10:i:3:p:286-300

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