Buying a Property in Hungary

It is very difficult for a foreigner to buy a property in Hungary, but those who have worked and lived in this country for several years are given consideration. An application and a permit to be issued by the Hungarian state are the most important requirements a foreigner to acquire some properties in Hungary with a fee of about 50,000 FT payable to the nearest Metropolitan or County Administrative Office.

All properties in this country are freehold and the private sector owns majority of these. Since the price of real estate is on the rise, owning some properties in Hungary can be a very good investment.  

For foreigners who want to purchase properties as individual buyers, one property is allowed per person by the state. Companies or corporations in Hungary are given more freedom to buy properties. Forming a company, even just between family members, is a good way to buy properties and take advantage of a lower tax rate of 16%. Registering as a Hungarian company is also an option when wanting some properties in Hungary than as an individual.  

There are specific laws governing the purchase of real estate in Hungary. For expats to avoid legal issues, it is best to hire a lawyer who can give professional advice.