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Buy an apartment for renovation in Budapest

A great number of apartments in prime downtown locations have not been renovated for years or sometimes decades. Thus, you can buy an apartment for renovation; then renting or reselling it guarantees a great return on your investment.

Buying a vacation rental in Hungary

Since more and more tourists prefer to rent an apartment rather than staying at hotels, buying a small apartment to be converted into a vacation rental is an excellent investment opportunity in Hungary.

Useful Tips

While short term rentals are more lucrative, if you are looking for a steady income on you investment, it is best to find long-term tenants for your property.

Real Estate Residence Permit

Owning real estate in itself does not make you eligible for residency in Hungary. However, there is a way for you to become an EU resident through investment in Hungarian real estate. If you set up a company, and indicate property management as your main activity, you can already apply for residency for yourself and your family.

Set up a company

Hungarian company formation is the fastest and simplest in the European Union, as it takes only 2-3 business days, and whatever nationality you are, you will need only a document of identification – mostly your passport. You have to travel to Hungary only for the company bank account opening, and you can start your activity right away. Your main activity will be property management (as the income of your company will come from renting the property you purchase), but through your company and automatically granted EU VAT number you will be able to simply trade in the EU if you wish to.

Purchase real estate

Your business activity will mainly consist of renting the real estate you purchased. To make your business feasible, you will be required to buy property that is likely to attract reliable tenants. In Hungary (and Budapest) there are various kinds of real estate, from apartments in historical buildings to flats in block buildings. With the help of our extensive network, we will help you choose the (at least two pieces of) real estate that will make the best turnover for you.

Apply for residency

If you are running a successful business and have steady income in Hungary, you become eligible for residency. A solid business plan will confirm the viability of your company and support your residency application. Moreover, if you are already a resident, you can bring along your family (your spouse and underage children).

Pricing

Investment: purchase of at least two apartments, ca. EUR 100,000 each

Company setup, administration, legal and personal assistance by Helpers: EUR 20,000 (+VAT)

Including:

  • Company formation, registration, and bank account opening assistance
  • First year accountancy and registered office / mail administration for the company
  • Developing a solid business plan
  • Property search to find the best properties
  • Comprehensive legal assistance for the purchase
  • Residency application for you and your family
FAQs

As operating the company and receiving a steady income is the basis of your residency, you have to keep the real estate and maintain the company as long as you wish to maintain your Hungarian residence permit. Once you do not need it anymore, However, you are free to sell the properties and liquidate your company.

Ask for a Quote

Let us help you set up a company for property management, and find suitable real estate to support your residency application.

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