Property maintenance in Hungary in 2024

Property maintenance expenses in Hungary cost about 1–4% of the property value per year.

Taxes

Annual real estate tax is 0.0–3.6% depending on the municipal district. As a general rule, this tax is not charged on apartments.

Rental income tax is 16%. Managing company services for rental property can reach 35-45% of the rent value.

Capital gains tax is 15% upon sale of the property. There are tax allowances depending on the duration of ownership. In the selling of real estate there is a step tax for 5 years. In the first year after the purchase, when selling, 15% is paid from the difference between the purchase and sale prices, after a year only 90% of the 15% tax is paid, after 2 years - 75%, after 3 years - 50%, after 4 years - 30%, and after 5 years - 0%.

Utility bills

Apartments in Hungary have electricity, water and gas meters. A two-bedroom apartment of 65-70 m² with a kitchen combined with a living room costs about €120–130 per month, including utility bills and internet costs. The total household expenses include charges for cold water, electricity, gas (if available).Hot water in the apartments is provided by electricity or gas; hot water is not supplied by mains. All the supply often powered by electricity. There are no winter and summer expenses, an average price is paid per month, once a year they are recalculated according to actual use.

Insurance

Home insurance costs about €10-15 per month, depending on the terms of insurance contract.

Repairs

Standard renovations and home improvements cost approximately €700–1,200/m², depending on the volume of work and quality of the materials used for its construction.