Why are thousands of German pensioners moving to Hungary?
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More than 3000 German pensioners moved to Hungary in the last couple of years. But why do they choose to spend their elderly years in Hungary instead of their country of birth?
The number of German pensioners is increasing in Hungary, which has picked the interest of German public media as well. The MDR made a report which was looking for potential explanations as to why Germans choose to move to Hungary and the region of Lake Balaton.
Cheap housing compared to Germany
Real estate around Lake Balaton has been especially popular among German pensioners. There is no doubt that it is much cheaper to buy property in Hungary, especially in rural areas, than in Germany. A German real estate agent showed a recently renovated house, 10 kms from Lake Balaton for HUF 18 million (EUR 49,000) to prospective buyers before talking to MDR.
“You can’t even buy a garage for that price in Germany,” the agent told MDR, who also mentioned that they felt the increased demand from Germans. Search for houses exploded in the area, with three to six showings a day.
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