Buying real estate inHungary
Real Estate Prices in Hungary
Varies, for example:
Hungarian Living Costs
The standard of living in Hungary is modest with similar salaries. Cost of living in considerably lower than the UK and France with reasonably low property prices, so only a low income is needed if you were to live there. On average, the cost of living in Hungary is much lower than the E.U average, particularly in rural areas.
Buying real estate in Hungary
the laws of Hungary, the right of ownership is the most absolute right
regarding an asset. In connection with an asset the owner is entitled to:
If foreign buyers purchase property through a company, they can take advantage of the attractive corporate tax rate, which is currently only 16% on net profits in 2004. This figure will be reduced to 12% by 2006 in annual 2% reductions. Even more appealing is the company tax rate on capital gains, which is just 2% when a property is sold through a company. Having a Hungarian company also avoids the need to obtain a residency permit which private individuals are required to do and can take around six months.
The company route is essential for investors who want to buy more than
one property as Hungarian authorities routinely deny residency permits for
individuals applying for the acquisition of more than two apartments.
Setting up a Hungarian company to buy a property costs around €850.
It is also worth noting however that is more difficult to get a mortgage
through a company unless your company has been operating for more than one
year and can show a certified income..
solicitor/lawyer is recommended to protect your interests and conveyance
the property title when buying real estate in Hungary. We are happy to instruct a suitable firm to act for you where required,
please speak to our offices if this is required.
can often borrow up to 70% from Hungarian banks and should be declared at the
time of the preliminary agreement. The normal repayment term is 15
here to arrange a mortgage in Hungary.
For more information on Hungarian Property and to arrange your viewing visit: