This is why Hungary attracts German pensioners

More and more German pensioners are moving to Hungary, on the one hand due to the cost of living, and on the other hand due to political reasons.

Index asked the leading economic expert of ingatlan.com to find out whether Hungary is really that attractive among Germans.

Hungary is a popular choice among pensioners

More and more Germans decide to spend their retirement years abroad. Among the most popular emigration destinations are countries with a significantly lower cost of living. Several pensioners can thus live a luxurious life abroad, writes the German Merkur. Compared to Germany, life in Hungary is very cheap regarding real estate prices, food and other costs.  In 2021, a total of 5,398 pensions were transferred to Hungary.

The paper highlights that Lake Balaton is one of the most attractive destinations among aging Germans. For example, the 71-year-old Wilhelm and his wife, Aline, moved to a Hungarian village near Lake Balaton three years ago. “In Germany, my husband’s pension would not have been enough. The cost of living was all-consuming,” he said. They then exchanged their 60-square-meter Palatinate home for a Hungarian property twice as large.

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Germans come in the largest number

“Most foreign inquiries to ingtalan.com come from Germany. This is also supported by KSH data, according to which the majority of foreign buyers are Germans”, said László Balogh from ingatlan.com. 80-90 percent of the Chinese and Vietnamese buy real estate in Budapest, and about half of the Russians buy in the capital and the countryside. Regarding the Germans, however, he pointed out: 30 percent of them buy in Budapest, the vast majority of them are looking for a new home in Transdanubia and around Lake Balaton.