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Museum of Fine Arts director Laszlo Baan said that plans for the quarter - scheduled to be completed by 2017 if approved - would reaffirm Budapest's position as one of Europe's main cultural hubs.

The museum official said that the new development will do much for arts and culture in the city, with it also expected to lead to a surge in the number of people taking Budapest apartments in the coming years.

Baan added: 'This will create a completely new position for Budapest and the country's image, and will place Budapest among the continent's 10 most important cities'.

Proposals for the multibillion-forint project will be submitted to the government, with work potentially beginning as early as 2014, Baan said.

He also plans to combine the collections of the National Gallery with those of the Museum of Fine Arts, though the move to bring together the institutions' works hasn't been welcomed from all corners.

However, what if travellers are out and about in the city over the coming couple of months? Well, there's still plenty to do, from cultural excursions to foodie pilgrimages.

Holidaymakers could see what the city already has to offer on a cultural front by checking out the Applied Arts Museum. Open every day but Monday, the museum sits not far from the Corvin Negyed station. The beautiful building is a fantastic example of Hungarian architecture, and offers a wide range of Art Nouveau displays and exhibits.

After all that sightseeing food may be in order? If so why not head down to the Central Market Hall, where there can be found smoked paprika, cured meats, fresh vegetables and much more options before heading off to embark on more sightseeing.