For travelers, food can make or break a city; the more culinary options there are in a city, the more enticing a destination it will be among tourists and expats. Toward this end, a team of analysts at international real estate brokerage Tranio have conducted a survey on food outlet penetration across major European cities, taking into account the housing prices and quality-of-life rankings.
The most popular location with property buyers in Hungary is the capital, Budapest. This city is known as one of Eastern Europe’s cultural centres and is renowned for its magnificent architecture and historic thermal baths.
In 2016, Roman, a lawyer from Kiev, bought a profitable apartment in Budapest with the help of Tranio. In his previous interview, he told us about his search and the purchase procedure. Did he manage to achieve the planned yield and has the apartment increased in price? Tranio caught up with Roman to find out.
Residential property in Hungary is several times cheaper than Western Europe. At the same time, the country has
Buying property in Hungary is relatively easy and it’s possible to find and buy property in a couple of days. After that, a lawyer takes over the remaining steps. In total, the buying and registration process take about two months.
Hungary’s academic institutions are popular with international students thanks to high living standards and affordable living costs as well as diplomas recognised around the world.
Property maintenance expenses in Hungary cost about 1–4% of the property value per year.
Taxes in Hungary are relatively low in comparison to other European countries.
Not every Hungarian bank grants loans to non-EU citizens, and some of those that do impose restrictions with respect to property types. For instance, Sberbank Hungary Ltd. offers mortgage loans to foreigners who wish to buy flats and homes in the country’s newly-built and existing property markets.
Residence permits are governed by the Law on Entry and Residence of Citizens of Third Countries while citizenship rights are set out in the Law on Citizenship.
A permanent resident of Hungary expounds on how difficult it is to find a good newly built property in a small European town.
Dmitry, an entrepreneur from Sevastopol, shares his experience of buying a property in Hungary.
Many peripheral districts of Budapest look more like suburbs than parts of a capital. Indeed, just
Poland, Romania, Hungary, Czech Republic and Latvia are experiencing economic growth, getting nods from investors, but still facing stable or — at best — modestly increasing rental rates and property prices. Nevertheless, experts are expecting some growth, which makes the countries a possible investment target at the very least.
Central Pest is popular with foreign buyers as it has the best homes and the most things to do. It is also an excellent place for holiday rentals.