Real Estate in Hungary

How do I find a place to live in Hungary?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"I already knew the neighborhood from spending a summer here working as an intern. Found my apartment by asking friends & looking for apartments with roommates," said one person in Budapest.

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What is a typical expat home or apartment like in Hungary?

"I live in an old apartment with a typical, Budapest courtyard that I love. It is a typical young-person's and there are many foreign students, but it's not a typical expat neighborhood. Expat neigbhorhoods are 5th and 6th district (around the embassies and businesses downtown) or residential Buda side districts like 1, 2, 2A and 12," remarked one member in Budapest.

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What is the average cost of housing in Hungary?

If you are thinking about moving to Hungary, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The cost of housing in Hungary varies depending on the location and type of accommodation. Generally, renting an apartment in Hungary can cost anywhere from around €200 to €1,000 per month, while buying a property can range from €50,000 to €500,000," explained one person living in Hungary.

"I would say outside the city lower but inside the city normal for most US cities and lower for cities like NYC and DC. The average cost for a 1200 square ft. apartment is around the same price usds. If you get a good deal that would include utilities. We pay 720. usds on the average for a 1 bedroom apartment including utilities. We were lucky," said one expat in Budapest.

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Should I buy or rent a home in Hungary?

If you have not spent a lot of time in Hungary, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Buying a home in Hungary can be a great investment, as the country has a strong economy and a growing real estate market. However, it is important to consider the costs associated with buying a home, such as closing costs, taxes, and maintenance fees. Renting a home in Hungary can be a more cost-effective option, as it allows you to avoid the upfront costs associated with buying a home. Additionally, renting a home can provide more flexibility, as you can move to a different location more easily than if you owned a home. Ultimately, the decision to buy or rent a home in Hungary should be based on your individual needs and financial situation," said one person in Hungary.

"Yes my husband and I very quickly purchased a unrenovated apartment. I am a real estate consultant, so I believe in renovation adding value . I did not want to pay for someone else's poor renovation. The process is not difficult. You may contact me for help," remarked one foreigner who made the move to Budapest.

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What do I need to know when buying property in Hungary?

When we asked expats what advice they would give a foreigner before buying a property in Hungary, they said:

"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Hungary, including any taxes or fees that may be applicable. 3. It is important to have a clear understanding of the terms of the contract before signing it. 4. It is important to have a clear understanding of the rights and obligations of both the buyer and the seller. 5. It is important to have a clear understanding of the local laws and regulations regarding property ownership. 6. It is important to have a clear understanding of the local customs and culture when purchasing property in Hungary. 7. It is important to have a clear understanding of the financing options available for purchasing property in Hungary. 8. It is important to have a clear understanding of the insurance requirements for purchasing property in Hungary. 9. It is important to have a clear understanding of the maintenance and upkeep requirements for the property. 10. It is important to have a clear understanding of the potential risks associated with purchasing property in Hungary," said one person in Hungary.

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Are foreigners allowed to own property in Hungary?

When we asked expats what advice they would give a foreigner before buying a property in Hungary, they said...

"Yes, foreigners are allowed to own property in Hungary. Non-EU citizens must obtain a residence permit in order to purchase property in Hungary, while EU citizens are allowed to purchase property without a residence permit. However, non-EU citizens are not allowed to purchase agricultural land or forest land. Additionally, foreign companies are allowed to own property in Hungary, but they must register with the Hungarian authorities," said one in Hungary.

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What appliances are typically included in a rental?

We asked foreigners in Hungary what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"In Hungary, rental properties typically include a refrigerator, stove, oven, and washing machine. Other common appliances may include a dishwasher, microwave, and air conditioning unit. Depending on the property, some landlords may also provide furniture and other amenities," explained one foreigner living in Hungary.

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Additional Information about Searching for a Home in Hungary:

We asked foreigners in Hungary what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats can search for homes in Hungary by looking online for real estate websites that specialize in the Hungarian market, such as ingatlan.com or ingatlanok.hu. They can also contact local real estate agents who can provide more information about the local market and help them find the right home for their needs. Additionally, expats can search for homes in Hungary by attending open houses or visiting local neighborhoods to get a better feel for the area," explained one foreigner living in Hungary.

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