Residence in Hungary Buying property is an attractive and sure opportunity for people who are looking for Immigration to Hungary and living in this European country. In this article it will be explained to you how you can with Buying property in Hungary Get permanent residency.
Of course, this is not the only topic that we will address, if with us Migration magazine Stay tuned. You can find useful information about the steps and Conditions for buying property in Hungarydocuments required to buy property in this country, as well as costs and expenses Buying a house in Hungary gain.
All the effort of Migraha magazine is to make your immigration process easier by providing accurate and up-to-date content. with us to get to know Staying in Hungary by buying a property be with
Hungarian residence rules and regulations with property purchase
To Residence in Hungary through property purchaseYou must be familiar with the relevant laws and regulations. Hungarian law stipulates that the purchase of a property must be confirmed by a private contract (purchase agreement) through a lawyer. Non-Hungarian citizens can also buy property in this country, but they must pay attention to certain conditions.
Keep in mind that as a foreigner, this contract must be prepared by you between 2 and 3 months. You need to pay to get this license 200 euros Is
But the point that is very important in this case is that Buying property in Hungary One of the sub-branches Investment visa It is in this country. Second, unfortunately, by buying a house in Hungary, you do not have the possibility of permanent residence in this country. This means that the government does not grant residency to foreigners who buy houses in this country.
Read more: Types of investment methods in Hungary
“Regulations for buying property in Hungary” for expats may change over time. It is possible that the Hungarian government, like other countries, will change the residency programs and rules over time.
Also, for permanent residence, consider that after buying a property, you can apply for a Hungarian residence visa, which allows you to live and work in Hungary for 5 years. After this period, you can renew your residence status. This issue can be an attractive option for immigration and residence in Hungary.
Read more: Immigrate to Hungary with a work visa – best jobs and income, student work
Obtaining permanent residence in Hungary by purchasing property
As already mentioned, Hungarian residency by buying property is currently not possible and you can only look at it as an option to immigrate to Hungary. By immigrating to this country, you can apply for Hungarian residency by buying a property.
Do not forget that this country is also part of the European Union, and as a result, the need for Shingen visa has it. But in order to receive this visa through the purchase of property in Hungary, you must meet certain conditions. These conditions are:
- Buying property: You have to buy a property in Hungary. This property can be an apartment, house, or business unit.
- Financial investment: In some cases, you must have a certain amount of money to invest in Hungarian real estate.
- paying tax: You have to pay taxes related to the property.
- entry visa: To start the process, you need to get a visa to enter Hungary, which is a Schengen visa.
- financial facilities: You must prove that you have sufficient financial resources to support yourself and your family in Hungary.
- Police Clearance: You must not have an inappropriate criminal record.
Steps and conditions of buying property in Hungary
As we said, staying in Hungary by buying a property can be a good option for you. In order to learn more about the steps of buying a house in Hungary, we will regularly share the steps of this process with you.
After deciding to buy a property in Hungary, applicants must go through several important steps to be recognized as a valid owner.
- The payment method agreement is first made between the parties (seller and buyer). This payment may be made in cash or bank transfer.
- The date of vacating the property is determined for the seller. This date is important so that the seller can vacate the property and deliver it to the buyer.
- To buy a house in Hungary, a deposit, usually 10% of the property price, must be transferred to the lawyer’s bank account. This amount is used as a guarantee for the transaction.
- A preliminary contract is signed between the seller and the buyer. This contract specifies the terms of the transaction in detail.
- The buyer has 30 days to pay the remaining amount of the property. If the buyer fails to pay on time, the security deposit is forfeited and the property reverts to the seller.
- The terms of the deposit are mentioned in the contract to protect the rights of the buyer and the seller. If the seller sells the property to another person, he is obliged to pay double the amount of the deposit to the buyer.
- After confirming the terms of the transaction, the final contract is signed by the buyer and the final payment is made. This step usually takes place in the presence of a lawyer.
- One of the good conditions of buying a house in Hungary is that if the buyer is unable to attend the purchase process, the lawyer will sign the official documents on his behalf.
- After completing all the steps, the water and electricity of the property will be transferred to the name of the buyer.
By following these steps in order, you will become the owner of a house in this country, and after immigration, you can apply for Hungarian residency by purchasing a property.
Documents required to buy property in Hungary
To buy a property in Hungary, the following documents are usually required:
- Copy of the passport of the applicant and his companions: You and anyone who wants to buy a property in Hungary must provide a copy of their passport.
- Passport photo of the applicant and his companions: Passport photos of the applicant and accompanying persons must also be prepared and presented.
- Ownership documents of the seller: Property ownership information and documents must be given by the seller.
- Documents related to the transaction: Agreements, forms and documents related to the property purchase transaction in Hungary should also be viewed.
- Financial documents: Some transactions may require providing financial documents. These documents may include bank confirmations and other financial documents.
Please note that the documents required to buy a property in Hungary may vary depending on the type of property and the terms of the transaction. For more detailed and up-to-date information, you can contact experienced real estate consultants or relevant authorities in Hungary.
In any case, remember that you intend to acquire Hungarian residency by buying a property, so take every step consciously and carefully.
Costs and expenses of buying a house in Hungary
The costs of buying a property in Hungary are different depending on the city, the size of the building and its neighborhood. You can estimate your expenses by looking at the table below. Keep in mind that the process of buying a house in Hungary includes other costs in addition to the price of the property. These costs are as follows:
| The cost of obtaining a municipal permit | To start this process, you need to get a municipal permit, which costs about 200 euros. |
| stamp duty | Stamp duty is calculated based on a percentage of the total purchase price, usually four percent of the total purchase price of the property in Hungary. |
| Lawyer’s fee | In most cases, you will need the services of a lawyer to manage the transaction, and the lawyer’s fee is usually around 1.5% of the total purchase price of the property. |
| Property management fee | This fee is also calculated based on a percentage of the total purchase price of the house in Hungary and is usually around 2% of the total purchase price of the property. |
| Survey fee (if required) | If you need an independent survey for the property, this fee may be between 100 and 200 euros. |
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Finally, if you are planning to obtain Hungarian residency by purchasing a property, consider that the above material will provide you with a great deal of attention to the financial details of the Hungarian home buying process. These costs may vary and should be calculated carefully to determine how much your total investment will cost.
Qualified to buy property in Hungary
To buy a property in Hungary and obtain residency or citizenship of this country, you must meet certain conditions and follow legal procedures. Specific requirements and steps can vary from case to case, but generally include the following:
- Financial Eligibility: You must have the financial ability to buy a property in Hungary. Real estate costs can vary, so having an adequate budget is essential.
- Permission to stay: Buying a property in Hungary can be a way to obtain a residence permit, and for this you need to obtain different types of permits, such as temporary residence permits, which may require you to prove your financial means.
- Legal processes: Buying property in Hungary involves legal processes, including signing contracts and adhering to local regulations. It is recommended to consult with legal experts or real estate consultants familiar with Hungarian real estate laws.
- Investment amount: In some cases, the amount you invest in Hungarian real estate may affect the type of residence permit you can receive. Therefore, it is strongly recommended that you be aware of the minimum investment requirements.
- extra expenses: As you can see, in addition to the price of buying a property in Hungary, you need to consider other costs such as property taxes, legal fees and maintenance costs.
- Residence and citizenship in Hungary: Depending on your long-term goals, buying property in Hungary can lead to residency or even citizenship. These processes have specific criteria and duration.
Researching the latest regulations and requirements from official government sources and consulting with experts is important to ensure your property purchase in Hungary, Hungarian residency with property purchase, and potential immigration process.
House prices in Hungary
House prices in Hungary are relatively lower than in many other European countries, offering a good investment opportunity. Property prices in Hungary vary depending on the area, size, and features of the property. For example, the price of buying a property in Hungary starts from 13,600 euros, but the prices vary based on the geographical location and various facilities.
In addition, through the purchase of property in this country, it is possible to indirectly obtain Hungarian residency, which we have already mentioned.
Finally, the increase in housing prices in Hungary has been observed in recent years due to favorable economic conditions, high wages and employment, and low loan rates in this country, and this trend may continue.
Advantages and disadvantages of buying property in Hungary
Although staying in Hungary is a safe way to buy a property and buying a house in this country is considered a reasonable investment, but like most investments, it has its own advantages and disadvantages.
Advantages of buying property in Hungary
Buying property in Hungary has many advantages that can help you as an investor or expat. Here are some of these benefits:
- Get accommodation: One of the main advantages of buying a property in Hungary is the possibility of obtaining residency in this country. This residence permits you to travel to Schengen countries.
- Reasonable price of properties: Hungary has a real estate market with reasonable prices, which allows foreign buyers to purchase valuable properties more economically.
- Safe investment: The stable property market and reliable property laws in Hungary give investors more confidence and security in real estate transactions.
- Access to public facilities: Hungarian cities have good public infrastructures that provide a more comfortable life for their residents.
- Favorable job market: Hungary is known as a country with a dynamic and favorable labor market for immigrants.
- Flexible property laws: Hungarian property laws are more flexible for foreign buyers than in many other countries.
- English language: In the big cities of Hungary like Budapest, English is well accepted and some transactions can be done in English.
- Rich history and culture: Hungary has a rich and fascinating history and culture that provides new residents with the opportunity to learn and experience it.
- Low running costs: Property operation and maintenance costs in Hungary are usually lower than in other European countries.
- Financial benefits: It is possible to carry out real estate transactions with more beneficial financial terms and installments in Hungary.
- Residential and commercial units: There is a diverse real estate market from residential to commercial units in Hungary.
- Legal support: In Hungary, property rights and appropriate legal support are provided for property owners.
- Geographical diversity: Hungary has beautiful natural landscapes from lakes to mountains and historical cities.
- Foreign ownership law: This country allows foreign citizens to buy property.
- Medical facilities: The healthcare system in Hungary is very advanced and provides excellent healthcare services to foreign residents.
- Easy trip: This country is located in the heart of Europe and allows you to travel easily to other European countries.
- free ownership: After buying a property in Hungary, you have ownership rights and you can manage the property as you wish and rent it out, for example.
- Growth potential: Due to positive economic growth and foreign investments in Hungary, property values may increase in the future.
These advantages are only one of the reasons why applicants turn to this country to buy property in Hungary. With proper selection and thorough market research, this experience can be very fruitful. Remember, staying in Hungary is a safe way to buy a property.
Disadvantages of buying property in Hungary
You should keep in mind that everything, including obtaining Hungarian residency through the purchase of a property, can also have disadvantages, which we will now discuss.
- Restrictions on the purchase of certain properties: Some properties, such as agricultural land, are assigned only to Hungarian citizens, and the purchase of some properties is restricted for foreign buyers. It means that you cannot buy more than a certain amount of agricultural property.
- Magyar language: Hungarian language may be a challenge for foreign buyers due to its difficulty.
- Different culture: Although Hungary has a rich culture, cultural and social differences may be problematic for some foreign buyers. Especially middle-aged people who immigrate.
- Variable legal conditions: Legal terms may change and should be carefully reviewed.
- price fluctuations: Like many other real estate markets, Hungary is also affected by real estate price fluctuations, which in some cases can harm you instead of making you profitable.
- extra expenses: Additional costs such as taxes and legal fees may be added to the final price. Although these costs are reasonable, they add up to the money of Iran.
- Online financial system: Some online banking transactions are not yet developed in Hungary.
- Ignorance about the area: To buy a property in Hungary, you must be familiar with the area and neighborhood you are buying in order not to regret your purchase.
- Ignorance of real estate regulations: If you are not properly familiar with the real estate regulations, you may get into trouble and stay in Hungary will not be realized by buying a property.
- Complexity of transactions: Transactions may be complicated and you need the help of a lawyer or consultant.
- Political and economic changes: Just like in all countries, changes in the policies and economy of Hungary may have an impact on the real estate market, the profit and loss of which cannot be accurately predicted.
- Use of the property in different seasons: If you are considering buying a property as an investment, pay attention to its use in different seasons of the year.
- Risks of changes in legal terms: Changes in legal conditions may lead to problems.
- Monetary unit: Currency fluctuations in Iran may be harmful for foreign buyers.
Rent a house in Hungary
Renting a house in Hungary is relatively cheaper than many European countries. The cost of renting a house in this country depends on various features such as size and geographical location.
In the city of Budapest, Hungary, you can rent houses of various sizes. The rental fee usually ranges from 600 to 3 thousand euros per month depending on the size and location of the property. In addition, the main advantage of renting a house in this country is introducing quality amenities to the residents of the houses. These facilities can make the experience of living in Hungary much more attractive.
To get more detailed information and choose the best option for renting a house in Hungary, you can refer to real estate consulting websites.
In addition to this resource, more information about the cost of living in Hungary is available to help you plan properly and make better decisions about renting a house in Hungary.
Advice and guidance on buying property in Hungary
When you plan to buy property in Hungary, it is important to be well aware of the legal process and requirements. Here are some tips and advice:
- Contact a lawyer: It is highly recommended to contact a lawyer experienced in Hungarian real estate law. They can guide you through the legal process, help verify property documents and ensure a smooth and hassle-free transaction.
- Property selection: Choose your property carefully and book it after checking it thoroughly. Check the condition of the property and its legal status before proceeding.
- License consideration: Depending on the type of property and your residency status, you may need additional permits. Consult your attorney to ensure compliance with this law.
For more information on these aspects, always consult professionals such as lawyers and real estate experts for personalized guidance based on your specific circumstances.
last word
Staying in Hungary is possible by buying a property under certain conditions, and in order not to miss this opportunity, you need to be aware of all its aspects. Migraha magazine makes all its efforts in this direction and hopes to be able to help you by providing the most up-to-date information in the matter of obtaining a residence in Hungary by buying a property.
Frequently asked questions about staying in Hungary with property purchase
Having the financial ability, obtaining a house purchase permit, and paying attention to the fact that foreigners are not granted permanent residence by buying a house in Hungary, and after 5 years of temporary residence, they can apply for permanent residence.
The price varies in different cities of Hungary, but the average price of a newly built apartment in Hungary is HUF 383,000.
presence in Hungary for 5 years and 183 days per year, and you must not be present in non-Schengen countries for more than 6 months of the year,
Budapest, Szeged and Debrecen
Minimum capital: 300,000 euros
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