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Buying Property In Hungary

In this article, our Hungarian colleague, Attorney Dr. Koppány Attila, will guide you through the process of buying a property in Hungary, including all legal procedures involved. Discover the ins and outs of property investment in Hungary.

Investing in Real Estate in Hungary: A Profitable Opportunity in 2023

Buying real estate in Hungary, especially in Budapest and its surrounding areas, can be a highly lucrative investment opportunity. In recent years, the average price of real estate in Hungary has consistently risen, with a 15% increase in 2022 (compared to a 27% increase in 2016). Furthermore, the average rent price is also on the rise, making real estate a highly profitable investment option.

To begin your real estate investment journey, the first step is to search for and select the right property. One of the easiest ways to do this is by browsing the web. In Hungary, the largest real estate website is Real Estate Hungary, which offers a wide range of properties to choose from. Alternatively, you can also opt to work with a reputable real estate agency, who can help you find the right property based on your specific needs and preferences.

At Gurcan Partners, we offer comprehensive legal and financial assistance for real estate investments in Hungary. Our team of experts can guide you through the entire process, from property selection to legal documentation and financial transactions, ensuring a smooth and hassle-free investment experience. Contact us today to learn more about investing in real estate in Hungary.

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.

Buying Property In Hungary Step By Step

1. Choose the property
2. Deal with the seller
3. We consult about the details and make a draft agreement
4. Sign the contract and pay
5. Turn the contract into the land registry
6. Acquire the ownership by getting registered
7. Pay taxes and other fees

Expenses That You Have To Pay When Buying Property In Hungary

If you’re considering buying property in Hungary in 2023, it’s important to be aware of the expenses you’ll incur. These may include legal fees, registration fees (6,600 Ft), property acquisition duty (4% of the price of the property), and property tax (which varies depending on the location of the property). It’s always a good idea to consult with a lawyer beforehand to get a better understanding of the costs involved.

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.