Hungarian real estate is an attractive investment. In 2017, foreign interest in Hungarian properties showed a steady growth, with Chinese buyers in the lead. EU Residency is also available for investors.
The share of foreigners of the Hungarian real estate market is around 6-7% according to data from ingatlan.com, leading property advertising site in Hungay. Alone in 2017, the 18% more foreigners bought Hungarian real estate than in the previous year, and there were 40% more Chinese looking for property in Hungary. This latter trend might be due to recent trade negotiations the Hungarian government has started with the Chinese, which means it can even strengthen in the future.
While the prices of Hungarian residential properties started a steep increase in 2014, they are still cheap compared to property in Central and Western Europe. As many foreigners buy property as a form of investment – whether for renovation and resell, or for short- or long-term rent – they can expect a good return on their investment. Chinese buyers typically look for property in the more popular areas of the capital Budapest, priced between HUF 50-80 million (EUR 170-270 thousand).
Another advantage of buying Hungarian real estate is that, combined with setting up a company for property management, it can make investors eligible for Hungarian residency. The Hungarian residence permit is equivalent of a Schengen visa, and makes Hungarian residents able to travel freely within the Schengen zone – an invaluable asset for someone doing business internationally. The typical investment requirement of the program is around EUR 200,000, with the purchase of at least two apartments of a value of EUR 100,000 each.
Are you are planning to make a real estate investment in Hungary as a non-EU investor? Then consider complementing your investment with setting up a Hungarian company and applying for Hungarian residency. As a Hungarian resident, you can access all privileges of residents of the European Union. Moreover, you can share these privileges with your family (spouse and children) as well, as they can also become Hungarian residents through the family unification procedure.
Learn more about the Hungarian real estate residency program now, or contact our experts for a free initial consultation. Write a letter to email@example.com, or call our office on +36.1.317.8570 Monday through Friday.
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