Interested in investing in prime real estate in Hungary and need a few pointers? We give you some exclusive tips, from legal to taxes to cultural must-know facts. These are just a few hint from our Buying Guide to Hungary available to Members-only. Enjoy!
Contrary to some other countries, the process to buy a property is pretty fast and a purchase offer is not an absolute requirement.
Hungary, located in the heart of Europe, links Western Europe and Eastern Europe. The capital, Budapest, with a population of 1.7 million, and Lake Balaton are among the most popular tourist destinations.
The relatively low property prices compared to neighboring capitals and western European countries, combined with the 10-15 percent decline in nominal home prices, make the country’s residential property market attractive.
An unavoidable city of history and grandiloquent architecture, Budapest is of course a must-see in the country. But if you look a little bit further, you will find that Hungary also has some amazing… natural water. Yes, we love natural springs just as much as you do? So… are you ready for the big dive?
Are keen on the country and looking to invest in real estate in Hungary? Our buying guide* provides the most important keys to successfully invest in Hungary luxury real estate. Our series of buying guides are designed per country and available for more than 15 countries already, including Russia, Brazil and India. Reserved to our Members, we give you an exclusive preview into our Hungary Buying Guide now!
How is the Real Estate market in Hungary looking like right now?
While the country residential market has been hit pretty hard by the crisis, it has started recovering and is growing increasingly strong. Remember that because of that hard hit you will also find some great deals!
How is the tax and legal framework surrounding Real Estate in Hungary?
Taxes on real estate in Hungary are pretty lenient. There is no national tax on properties, although cities may apply their own. Capital gains are not taxable if you have bought less than six years at the time the sale happens. So there is many good points on a tax level. As usual, we always recommend that you contact a tax specialist for your project, and to understand all particular cases. You may have a look at our Affiliates directory for tax professionals, if needed.
Practically speaking, how do you buy a property in Hungary?
Contrary to some other countries, the process to buy a property is pretty fast and a purchase offer is not an absolute requirement. You may sign the purchase agreement directly, along with a 10% deposit. As a foreign buyer, the agreement should mention deadlines for all necessary authorizations. Once this is done, it is usual to notify all public utility of the change of ownership. You may also need a lawyer to handle the registration of the transaction at the Hungarian Land Administration.
Need help buying your home? Contact our Members in Hungary for more information.
*Buying guide are reserved to our Members, however you may read a free preview to the Austria Market Guide online.
