Revealed: These nationalities buy the most property in Hungary – surprising countries in the top ranks
A total of 6,600 foreign citizens purchased property in Hungary last year, spending more than HUF 309 billion, according to fresh data released by the Hungarian Central Statistical Office (KSH). This represents 6.4% of all residential transactions, confirming that non-Hungarian buyers remain key players in the domestic housing market. Although the number of foreign purchasers still falls short of the near-record figures seen in 2022, demand began to rise again in 2024.
Germans still lead, while Chinese buyers surge ahead
As in previous years, German citizens bought the most property in 2024, completing 1,369 transactions, primarily in Western and Southern Transdanubia. The Chinese saw a remarkable rise, moving into second place with 708 purchases — just two years earlier, they ranked only fifth.
Romanian and Slovak buyers shared third place with 671 transactions each. British demand, however, plummeted dramatically: instead of 601 buyers in 2023, only 77 British nationals appeared on the Hungarian property market last year.
Far Eastern demand focuses heavily on Budapest
Foreign buyers accounted for 7.8% of all transactions in the capital, but their total spending reached 10% of Budapest’s entire residential turnover. This indicates that they typically purchase higher-value properties.
Differences between nationalities are striking: Chinese and Vietnamese buyers appear almost exclusively in Budapest, especially in the inner Pest districts. Nearly 19% of all foreign transactions took place in Districts V–VIII.
In contrast, demand in the countryside mainly comes from neighbouring countries. Romanians tend to focus on Békés, Hajdú-Bihar and Szabolcs-Szatmár-Bereg counties, while Slovak buyers are particularly active in Borsod-Abaúj-Zemplén and Győr-Moson-Sopron.
Russian and Vietnamese buyers: rising powers in the luxury property segment
Last year, Russian citizens paid the highest average price for a home: HUF 83.5 million per property, with the average price per square metre reaching HUF 1.4 million.
They were closely followed by Vietnamese buyers (HUF 83.4 million), while the Chinese ranked third with an average of HUF 76.9 million.
At the opposite end of the scale are Romanian buyers — typically active in rural areas — who paid an average of only HUF 16.8 million. Dutch and Belgian buyers also failed to reach the HUF 30 million threshold.
What to expect in 2025? Two opposing forces shaping the market
Experts say the coming year may bring a dual trend: the government’s Otthon Start programme will favour Hungarian buyers, potentially reducing the proportion of foreign purchasers. At the same time, the boom in new housing developments in Budapest — supported by the Housing Capital Programme and the special priority status granted to certain projects — may once again attract significant interest from international investors.
According to Dávid Valkó, lead analyst at OTP Ingatlanpont, the strengthening of the forint could somewhat discourage foreign buyers. However, the expanding supply of newly built, premium-category homes is specifically aimed at those seeking high-end properties — a group that still includes many non-Hungarian citizens.