Property for Sale in Hungary
Hungary is ideal for buying a second home or investment property. The heart of the country’s major cities and the countryside serve up bargains from time to time. Some of the most attractive features of Hungary include its thermal spas, folk art, stunning architecture, and the fact that it is home to Europe’s most exciting capital for nightlife. From medieval townhouses to Roman ruins, Hungary has some of the most fascinating architectural landscapes in Europe. HomesGoFast makes searching for a home in this beautiful country easier for international investors who want the best value for their money.
Property For Sale By Owner in Hungary
We promote properties in Hungary direct from the owner and some of the best Hungarian real estate agents all advertising to foreign or overseas buyers. We have been helping international buyers connect with some of the best property developers, individuals, and real estate agents since 2002
How to sell Hungarian Property to International Buyers
Selling real estate from Hungry to international property buyers is made a lot easier by using Homesgofast.com. Our customers come from within the European Union, with many searching for posh houses in some of the more expensive locations. Others are on the lookout for affordable housing that will resell profitably. They are all attracted by the stable real estate market where prices have been relatively lower than those in the other main cities across Europe.
For buyers who would like to live in a place where folk culture is still alive in Europe, Hungary is the perfect location. Summers in Hungary are often warmer than those in the UK and Ireland, with half as much rainfall, making places such as Budapest a favourite during summer. HomesGoFast has been helping foreign buyers find ideal holiday homes in the country’s capital, which they can rent out when they are not there.
What are the Best places to buy property in Hungary?
Budapest is by far the most popular city in Hungary for international property buyers. These are some of the areas and types of houses preferred by our clients:
District 5, Budapest.
It is also no great surprise that real estate in this district is some of the most expensive in Budapest, but prices are a mere fraction of similar districts in Vienna, Berlin or Paris and as such the 5th offers the chance to own a home in one of the most beautiful and thriving areas of the city as well as being one of the safest, low risk high-end property investments available in Europe today
Detached houses in Districts I, II, III and XII, Budapest.
Mansions in Rózsadomb neighbourhood, Budapest.
The Újlipótváros neighbourhood, Budapest
Homes in The Lake Balaton area
Why Foreigners Buy Property in Budapest
Foreign buyers that use Homesgofast.com love Budapest real estate. Property in Buda, the area of the city to the west of the Danube, traditionally has been more expensive than in central Pest, east of the river. Buda is the greener area with premium villas and large family homes.Many foreign investors are seeing the value in buying apartments in the city centre to rent out to tourists through websites such as Airbnb. There is a small pocket of the city located around the fifth district that has about 90 percent of the Airbnb rentals
Video Guide to Budapest
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Overseas Buyers and Hungarian Real Estate
Foreign home buyers’ share was around 22-27 percent in the inner districts of the Hungarian capital last year. Many of them have seen the property market trends as alternative opportunities for investments. Read more at Where and Why To Invest in Budapest also Budapest Business Journal
How to Buy property in Hungary
Buying property in Hungary is no longer as complicated as it used to be, as it has been simplified in recent years. Foreign buyers largely have the same rights as Hungarian citizens, except for restrictions on location. They are restricted to buying residential or urban homes as the rural property space is exclusive to citizens. EU citizens find it easier to buy property in Hungary since they don’t need to obtain any permits. They can purchase by contract through a lawyer and begin the buying procedure in Hungary or from the UK.
Other foreigners need to obtain a permit from the district council, which costs around 200 euros. The permit is approved within six weeks. There are many financing options including international and local banks in Hungary who offer mortgages to foreigners. Many Hungarian lawyers and realtors encourage foreigners, especially non-EU citizens, to purchase a property as a company, instead of as a private person. While this is done to avoid administrative difficulties with Hungary’s authorities, there are many advantages of purchasing property as an individual, including higher loan-to-value ratio, longer terms of repayment, and lower interest rates. The three leading banks operating in Hungary that specialise in lending mortgages are the Unicredit bank, the FHB, and the OTP Mortgage Bank.
House sales in Hungary
Many of our foreign investors from non-EU countries are from China and Russia, and are mostly interested in the more expensive locations in Budapest, with some Russians occasionally looking toward the countryside. While many are interested in buying property solely for investment, others decide to reside in Budapest.
This is a change from the early 2000s when most international buyers interested in Hungarian property were from England, Germany, Spain, Ireland, and Israel. Since 2014, we have noticed some changes in the types of buyers more interested in Hungary, with the majority of foreign buyers coming from Ukraine, Russia, China, the USA, and Israel.
The growing demand for real estate from Chinese buyers has resulted in Budapest now holding central Europe’s biggest Chinese settlement. Many of these investors prefer large apartments located in the upscale districts of the city, and luxury properties in the Rózsadomb neighbourhood. We have noticed that District 5 and the Újlipótváros neighbourhood are popular among Ukrainian, Belarus, Russian, and Chinese investors.
Buying Hungarian Property – Frequently Asked Questions
Can foreigners buy property in Hungary?
Yes. Foreigners who do not plan on living in their Budapest property are obliged to apply for permission to buy but this is merely a formality, costs approximately £140 and takes between 4 and 6 weeks.
Do I have to set up a company to buy property?
No. You may buy as an individual or as a company. Unless you are considering purchasing multiple properties, it is not particularly worthwhile setting up a company due to the overheads – £500 (approx.) to set up the company and £40 a month (approx.) in accountant`s fees.