Real estate in Hungary

Buyer's guide

• Who can buy a property in Hungary?

  

  Foreigners can buy any type of property in Hungary except for farming lands and heritage assets. However, they must obtain purchase permission from the Land Registry, which is arranged by a lawyer. Exceptions include:

  • citizens of Hungary;

  • citizens of the EU, Norway, Iceland, Liechtenstein, and Switzerland;

  • anyone inheriting property.

• Property prices by region of Hungary

  

  The average prices per square metre of new properties are the following:

  • Budapest is the most expensive — €3,695; 

  • Siófok near Lake Balaton — €3,450;

  • Debrecen — €2,465;

  • Szeged — €2,220;

  • Nyíregyháza, the cheapest — €1,725.

  Resale properties average €1,280 per square metre, and in Budapest resale reaches €2,355 per square metre.

• Property purchase procedure in Hungary

  

  The process of buying property takes about two months. After selecting a property, the procedure follows several stages:

  1. The buyer signs a preliminary agreement and pays a 10% deposit.

  2. A lawyer obtains purchase permission within 2—4 weeks.

  3. The buyer signs the main agreement and pays the remaining amount.

  4. The lawyer obtains ownership certificate via the Land Registry.

  5. The new owner pays stamp duty within 90 days.

  Only a Hungarian lawyer can complete legal steps in the process.

• Property purchase taxes

  

  The buyer pays the following taxes and duties:

  • stamp duty of 4% for properties of up to HUF 1 billion, or about €2.5 million; 2% applies beyond that;

  • VAT of 5%, included in new property prices

  • admin fees of about €280 in total;

  • legal and service fees of typically up to 5% of the property price.

  Total purchase-related expenses average about 10% of the property price.

• Residence permit in Hungary by the purchase of a real estate

  

  Hungary does not directly grant residency to property owners. However, buying or renting a residential property is required to have a registered Hungarian address, which is a condition for residency. 

  Through Hungary’s Golden Visa program, buyers can invest:

  • €250,000+ in real estate funds, or

  • €1 million donation to a university.

  After entering Hungary with a 6-month Guest Investor Visa and fulfilling the investment, applicants may get a residence permit.

  Other residency options include the White Card for digital nomads and permits for business owners.