FAQ
The frequently asked questions that we collected are the following. In case you need further information please feel free to contact us.
1. Can I purchase a real estate in Hungary?
Yes. As an EU citizen you are allowed to buy any kind of real estate under the same conditions as Hungarian citizens. EU registered companies can also purchase real estate. If you intend to purchase for your company as an investor this also follows the same procedure. You can buy any of the real estate without restriction that are featured on our website.
For Non EU citizens, real estate acquisition requires permission. If Hungarian citizens are permitted to purchase real estate in the country of your nationality, you are allowed to buy real estate in Hungary. An international treaty (the principle of reciprocity) enables you to do that. Acquiring a purchase permission is purely a formality. Eg.: Switzerland, Ukraine, USA, Russia, Australia, Canada, Quatar.
If Hungarian citizens are not permitted to buy real estate in the country of your nationality, nor has it an international treaty, you are not allowed to buy real estate in Hungary, except for a few special cases such as studying in Hungary, permanent medical treatment. Eg.: India, Pakistan, China, Turkey, Egypt.
2. What does the ’all in’ purchase price include?
- purchase price of the real estate
- Commissions
- lawyer’s fees /land registry/
- contract translation fees
- electricity/gas/water,utilities changing to your name
- Giving a helping hand at opening a bank account and taking out real estate insurance
- Non-EU citizens’ real estate purchase permission administration
The price does NOT contain:
- 4% capital transfer tax, which is to be paid once, after the purchase
- in case your real estate purchase requires permission, the price does not contain the Non-Eu citizen permission’s fee of 50.000 HUF
3. What are the taxes in connection with real estates in Hungary?
In most settlements there is no property tax (90% of settlements have no property tax). If there is, it is a small amount of money, which is usually 0-40€/year/real estate. The amount of property tax is defined by local councils.
If you wish to sell your real estate with profit within 5 years after the purchase, your profit incurs a 16% taxation. In case you wish to sell your real estate after 5 years after the purchase, the profit is tax-free, no matter how much it is,which is truly beneficial for investment purposes.
4. When will the property be in my name?
In a normal case the land register changes the property to your name within 30 days after the final contract. For further information about this please see” The Buying procedure”.
5. Living expenses
In case you wish to settle permanently in Hungary, the following list is a guide to help you;
Supermarket food prices are similar to that of Western Europe
Restaurants, car insurances, services are cheaper
Real estates’ purchase price, renovation, electricity, gas are also cheaper
€1000 is enough for making ends meet properly monthly.
6. What is the weather like in Hungary?
In summer it is hot (around 30 Cº), there can be storms, but dry weather is much more likely. The number of sunny days is high. The winter is usually mild, the temperature is below zero, but it does not snow often. The weather is best in late spring and in early autumn.
You can read more about the Hungarian climate here: http://www.weatheronline.co.uk/reports/climate/Hungary.htm
You can view the current weather of Hungary here and can also find weather forecast: http://www.weatheronline.co.uk/Hungary.htm
