Source: depositphotos.com
Prices and taxes
Prices vary between regions, cities and even inside Budapest. One sqm in the most expensive districts (1st, 2nd, 5th, 12th) can reach EUR 5,500. But the average in Budapest is “only” EUR 2,360. In Debrecen, Győr or Hévíz near Lake Balaton, the investment amount you need is even lower.
Regarding resale property in Hungary, the price is just EUR 2,200 in Budapest.
Of course, you may pay approximately 10% more because you must pay the stamp duty (4% of the price if below EUR 2.6 million, 2% if above) and some other administrative fees listed in the article.
The downtown of Budapest. One of the best places to invest your money. Photo: Daily News Hungary – Alpár Kató
If you are under 35, you may get a 2% reduced tax rate but only to the portion over HUF 15 million (EUR 37,400). Finding a house or apartment below HUF 15 million is hard in Hungary but not impossible in the rural areas, especially in small settlements.
Getting a Hungary Golden Visa simplified
Foreigners can buy property in Hungary except for agricultural lands and heritage assets. However, you must obtain permission from the Land Registry in the district where the property is located. You should know that some local governments do not grant that to foreigners.
However, if you are a Hungarian citizen, a citizen of EU countries, Norway, Liechtenstein, Iceland, Switzerland, or a foreign citizen inheriting property, you do not need such permission.
The Liberty Bridge, the Fővám Square and the Kálvin Square in Budapest. Photo: FB/ZoltanGaborPhotography
Finally, as a buyer, you must obtain an up-to-date energy performance certificate for the property.
An additional tip is to hire a Hungarian legal company to navigate you through the process.
If you only want a golden visa but do not have EUR 500,000, you can purchase real estate funds for EUR 250,000. If you have more money and do not want to buy property, you may donate EUR 1 million to an approved institution of higher education in Hungary.
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Featured image: depositphotos.com
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Publish date : 2024-10-08 05:17:00
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