Danube region flooded with Germans and Dutch, factories brimming with Filipinos
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One in twenty buyers in the Hungarian property market is foreign, with the Transdanubian and Lake Balaton regions being particularly popular. At the same time, the Hungarian labour market is also flooded with migrant workers, especially from the Philippines.
Foreign buyers in the Hungarian property market
Roughly one in twenty buyers on the Hungarian property market are foreigners, accounting for 4-5% of the 5-6 thousand properties purchased each year. LĂ¡szlĂ³ Balogh, chief economist at ingatlan.com, said these are not just investments, many live here or spend most of the year in Hungary.
People from different countries come to our country with different preferences 24.hu writes. Chinese, Vietnamese, Israeli and Russian buyers are concentrated in the capital, Budapest.
While Germans (30% of foreign buyers), Dutch, Swiss, Austrian and Belgian buyers prefer to look for property in the countryside. The most popular areas are in the Transdanubian and Lake Balaton regions. They mostly come not to work or study but to settle down. Many of them are retired people who receive their pensions from their home country, which allows them to live their best lives in Hungary.
Foreign workers in Hungary
At the same time, the number of foreign workers in Hungary is rising. Due to labour shortages, more and more guest workers are arriving, with the number currently reaching over 100,000.
Take a walk along the Danube in Budapest, the “rak parks” quays, and just factually see, on the River Ships, up to 18 at a time moored in the height of the 2023 summer, and look at the nationality of the crews – Flipino.
OBB Nightjet – Sleeper Car – Vienna to Zurich – our carriage attendant – Filipino.