In this article, our Hungarian Colleague Att. Dr Koppány Attila will mention buying a property in Hungary, step by step with all legal processes. Property Investment in Hungary.
Buying real estate in Hungary, especially in Budapest and the surrounding area is a really good investment. Last year the average price went up more than 15% (in 2016 it was 27%) and it is still increasing, and so is the average rent price which makes real estate a more profitable investment. (More Information)
Every real estate investment starts with searching for and choosing the right property. The easiest way is to search the web. In Hungary, the biggest real estate site is real estate Hungary where you can find any kind of real estate, or you can choose to form the big agencies. If you choose an agency you can give them the details of what you need and they find the right property for you.
According to Hungarian Law, property purchases shall be concluded through a purchase agreement countersigned by a lawyer. It is important that in Hungary you must have a lawyer to buy real estate so when you found the one you want to buy then comes the part where we can help you and provide complete legal assistance from drafting the contract to the possession of the property.
To buy a real estate property in Hungary, everybody should have a lawyer to finalize the process.
During the process, we can help you negotiate with the seller and write the contract with all the details that are important for you and for the registration of the ownership. You just have to sign the contract and we will take care of the rest.
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BUYING PROPERTY IN HUNGARY STEP BY STEP
- Choose the property
- Deal with the seller
- We consult about the details and make a draft agreement
- Sign the contract and pay
- Turn the contract into the land registry
- Acquire the ownership by getting registered
- Pay taxes and other fees
EXPENSES THAT YOU HAVE TO PAY WHEN BUYING PROPERTY IN HUNGARY
- Lawyer fee (needs prior consultation)
- Registration fee (6.600 Ft)
- Property acquisition duty (4% of the price of the property)
- Property tax (depends on where you buy the property)
DO FOREIGNERS NEED A PERMIT TO BUY PROPERTY IN HUNGARY?
There is no restriction on homebuyers who are European Union citizens. However, Non-Eu Member Citizens must obtain a permit. Acquiring the permit is the first step of signing the contract and then lawyers can handle the rest of the permit process.
Please check Frequently asked questions about purchasing a property in Hungary.
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If you consider buying a property from Hungary, check our portfolio where you can find properties for sale at very affordable prices.
Hungary Investment Promotion Agency
Buying Property in Hungary
Att. Dr. Koppány Attila
All rights reserved. All rights of the Buying Property in Hungary article belong to Gurcan Partners International Law Firm. The author has no responsibility for the information in this article. This article is prepared just to inform.
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