Buying property in Hungary: simple guide for foreigners
If you are planning to relocate or looking for a real estate investment in the European Union, buying property in Hungary is a smart move. The country offers a central location, strong property market growth, and affordable living costs. Foreign buyers, especially those from outside the European Union, must follow specific laws and procedures when purchasing real estate. In this article, we explain why investing in Hungarian property can be a good decision and what practical steps you should prepare for.
Why should you consider buying property in Hungary?
Buying property in Hungary can be a smart move for anyone planning to relocate to the European Union, explore strong real estate investment opportunities, or take part in a golden visa program. Here are some of the main advantages Hungary has to offer.
Central EU location with great connectivity
Situated in the centre of Europe, Hungary is a member of both the European Union and the Schengen Area. The country is well developed and has two major international airports, making it easy to reach most European cities within just a few hours.
Rising property prices and strong investment potential
Hungary’s real estate market has performed impressively in recent years. Between 2010 and 2024, property prices more than tripled, an average increase of around 218%, among the highest in the European Union. Experts expect continued growth, which makes Hungary an appealing choice for investors seeking solid long-term returns.
Source: europa.eu
Golden visa and residency options
Hungary offers a unique 10-year guest investor residence permit available to all third-country nationals. Among other options, investors can qualify by making a minimum investment of €250,000 in a real estate fund registered with the Central Bank of Hungary.
Learn more about Hungary’s golden visa opportunities:
No residency required to buy property in Hungary
Hungary allows foreign nationals, including those from outside the European Union, to purchase real estate in the country. Residency is not required, but a permission is, however the conditions are generally easy to meet. Our experts are happy to guide you through each step of the process to ensure everything runs smoothly and to maximise your chances of success.
Affordable living costs
Hungary combines safety, a developed infrastructure, and a relatively low cost of living. Housing, healthcare, and education are all considerably more affordable than in many Western European countries. For those seeking a high quality of life at a reasonable price, Hungary stands out as a great option.
Who can purchase real estate in Hungary?
In Hungary, several groups of foreign nationals and entities are allowed to buy property without needing special permission. These include:
- Dual nationals who hold Hungarian citizenship alongside another nationality
- Citizens and companies registered in any European Union member state
- Individuals acquiring property through inheritance
- Individuals and legal entities from Norway, Iceland, or Liechtenstein, which are part of the European Economic Area
- Recognised refugees or persons under subsidiary protection in Hungary
- Swiss citizens and organisations based in Switzerland
If you do not belong to any of these groups, you may need to apply for official permission to purchase property in Hungary. In the next section, we will explain how you can obtain this approval.
How to get special approval for buying property in Hungary as a non-EU citizen?
If you do not fall into the categories mentioned above, you may need to apply for special approval to buy property in Hungary. The process can be complex and requires communication in Hungarian, so we strongly recommend seeking professional assistance. Our experts are ready to guide you through each step and help maximize your chances of success. Here is how the process works!
1. Submit an application to the local government office
The first step is to submit an official application for property acquisition to the Government Office responsible for the district where the property is located. The application must be completed in Hungarian using the official form, which can be downloaded from the relevant Government Office’s website.
2. Attach all required documents
After filling out the form, you need to attach the following supporting documents:
- A certificate of good conduct
- A certified title deed or proof of payment
- A notarised copy of your identification document
- A notarised sale, purchase, or gift agreement
- For companies: a recent certified company extract issued within 21 days
- For long-term residents: an employment certificate issued by the tax authority
- If represented: a power of attorney authorising the representative
3. Pay the administration fee
A government administration fee must be paid when submitting the application. The standard fee is 65,000 HUF (approximately 170 EUR), which covers the review and processing of your request. Applicants who are already in the process of acquiring Hungarian citizenship benefit from a reduced fee of 13,000 HUF (approximately 35 EUR).
4. Review and decision
The Government Office will then examine whether your planned property purchase is contrary to public interest. During this review, the authorities verify whether the applicant has any entry bans, ongoing criminal proceedings, or other legal restrictions. They also consider whether the applicant intends to conduct business or settle permanently in Hungary, and whether the property supports those intentions.
The official processing time is 45 days, though in practice it can take longer due to document corrections or additional information requests. To prevent delays, it is advisable to work with an experienced professional who can prepare and submit the application accurately and in compliance with all requirements.
FAQ
Are foreigners allowed to buy property in Hungary?
Yes, foreigners are allowed to buy property in Hungary. Even non-EU citizens can purchase real estate in the country.
How long does it take to buy a house in Budapest, Hungary?
The overall timeline depends on your individual situation and whether you require special approval. The approval process itself usually takes between 45-90 days.
Buying a house in Hungary from the UK: what you need to know?
Yes, UK citizens can buy property in Hungary. Those who lived in Hungary before the end of the Brexit transition period can purchase under the same conditions as EU citizens. UK nationals who moved to Hungary after the Brexit transition period are generally required to obtain a foreigner purchase permit from the local government office before buying residential property.
Crystal Worldwide Group: buying property in Hungary with professional assistance
Crystal Worldwide Group is an international law firm which specializes in residency by investment, tax planning and wealth protection. During our more than thirty years in operation, we have managed to earn the respect and trust of our clients by offering professionally sound and lawful immigration solutions, tax savings and wealth protection, together with fast and timely services provided at the highest level of discretion.
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