It’s worth buying property in Hungary: you may even become an EU citizen!
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Investing your money in property in Hungary is a safe way to protect the value of your money while it has some additional benefits. For example, property prices in the country increase with the rental prices and there is a housing crisis mainly in Budapest. Hungarian property is cheaper than in a lot of other EU member states. And finally, if you buy Hungarian real estate, you may become eligible to get a Hungary Golden Visa, which enables you to stay in Hungary and move in the European Union freely for 10+10 years.
Property in Hungary is relatively cheap generating high income
The Edinburgh Reporter collected several benefits of buying an apartment or house in Hungary. What is bad news for Hungarians is good news for foreign investors. Hungarian average wages make buying property more and more challenging for employees, especially young people. As a result, many leave Hungary to work in the West and collect enough money to get an apartment here.
From the perspective of those living in Western European countries, however, property in Hungary is not that expensive. Real estate prices in Milan are 37% higher, but Berlin (26%) and Prague (25%) also precede our capital. Meanwhile, rental prices in Hungary grew by 165% between 2013 and 2023 and the trend continues. As a result, rental yields are higher (5.09%) than the EU average. Finally, if you buy real estate in Hungary for more than EUR 500,000, you and your family (spouses, children under 18, and later, dependent parents) can get a Hungary Golden Visa enabling you to live here and travel in the European Union for 10+10 years. That may lead to citizenship in the EU.
Prices and taxes
Prices vary between regions, cities and even inside Budapest. One sqm in the most expensive districts (1st, 2nd, 5th, 12th) can reach EUR 5,500. But the average in Budapest is “only” EUR 2,360. In Debrecen, Győr or Hévíz near Lake Balaton, the investment amount you need is even lower.
Yey! A back door! Who runs the State approved real estate funds? Not Politician Friends, Family and Toadies, right?
Let´s keep out those immigrants, shall we. Unless they bring money, in which case … All good, no questions asked.
Hi Norbert, to be fair, other EU Countries applied similar rules (eg. Malta, Cyprus, but more for sure). The only point is in case of HUXIT, what could happen to these people who got the Golden VISA.