Hungarian residence permit for investment
Trends of the Hungarian property market in 2024.
And why is it profitable to buy property in Hungary now?
In Hungary over the last 10 years the value of property has increased several times, and over the last 4 years, starting in autumn 2020 the average value of residential property in Hungary has increased from 50% to 90% of its original price in 2020.
For example, a 45 m2 1+1 studio flat with combined living room and kitchen in a new building and with a loggia or balcony cost 40,000,000 Ft Hungarian forints (that’s about 114,000 euros at the average Euro to Hungarian forint exchange rate, according to the Central Bank of Hungary as of October 2020, was 351.2373 HUF).
In 2024 the real estate trend continues with the new immigration investor programme of the Hungarian residence permit for investment and for the purchase of real estate.
For example, if today you can buy for 500.000€ a two-storey flat or penthouse near the city centre, then in half a year the property will cost about 550.000-600.000€, which will be an increase in value by 10-20%. Therefore, we recommend all our clients to invest in real estate in Hungary today, so that in the future do not overpay for it an extra 50.000-100.000 €.
What is interesting, the cost per square metre can be the same, both in Budapest, and on Lake Balaton, and in a city such as Székesfehérvár (Székesfehérvár). Székesfehérvár is the former capital of Hungary and the City of Kings. Thirty-seven kings were crowned in the city. Székesfehérvár is located 63 kilometres from the capital of Hungary, near Lake Balaton. Recall that Lake Balaton is the largest in Europe.
Of course, the exact cost per square metre depends on the area, the house, the location of the property, what will be the view from the window and many other factors.
For example, the cost of a residential property overlooking the Danube in a new building in Budapest will be from 350.000 € and it is only ~ 2 km from the city centre and the Hungarian Parliament.
We have prepared for you a catalogue of residential Hungarian real estate (catalogue of real estate is available by clicking here), where you can find properties in new buildings in Hungary, whether it is the capital of Hungary – Budapest or flats and houses on Lake Balaton or Hévíz, where there is a unique thermal volcanic lake, which cures many diseases and strengthens health. Hévíz in Hungary is compared to Karlovy Vary in the Czech Republic.
And if you have an individual request for a Hungarian property, you can contact us and we will be happy to find you a residential or commercial property according to your request.
Many of our experts have more than 30 years of experience in real estate, and our Hungarian lawyers will check the property for its legal integrity and we will organise a turnkey transaction for you.
Regards,
Timur Igamnazarov and the IST Hungary team.
including mediation services.