Hungary is a country with unique natural features and a developed economy. There are good conditions for living and doing business. Real estate in Budapest and other cities is attractive for foreign investors. But when buying an object it is worth weighing the pros and cons.
Acquisition of real estate in Hungary has several advantages. Unlike many European countries, there is no mandatory amount that must be paid for housing to facilitate the procedure for obtaining a residence permit. When buying real estate tax is only 2-4%. Amazing climatic conditions, thermal springs attract tourists from different corners, which means that renting the property for rent will bring a steady income. Property tax applies only to resort regions.
The procedure of buying a house to obtain a residence permit includes several stages:
● issuing the transaction and documentation for the sale;
● waiting about a month for the permission to purchase;
● payment for the object according to the contract;
● within a month the owner receives a one-time visa D issued at the location of residence;
● then you can submit documents to the Migration Service for the completion of the procedure to obtain a residence permit. This process takes 2 weeks.
In total, it takes an average of 2.5 months to obtain a residence permit in Hungary.
Popular among investors enjoy real estate in Budapest. Most often they buy housing in the center for the purpose of renting it out. Such an acquisition will pay off in 10 years. The apartment is a small area in the center of the capital will cost about 60 thousand euros. Business-class apartments start from 140 thousand euros. Accommodation with 5-6 rooms, the windows of which overlook the Danube River, can be purchased for 1 million euros. For an old villa in a picturesque area, you need to pay 5 million. If you have a limited budget, you can look at apartments in remote areas of Budapest, where the price per square meter is 700-800 euros.
The center of the capital of Hungary boasts modern complexes, among them — Sun Resort. Its uniqueness in the position of the windows, which are directed upwards, as if drawn to the sun. Apartments here start from 60 thousand euros. It is profitable to rent an apartment in a comfortable complex. The annual income from it is 5-6%, while the cost of rent increases by about 8%. You can also look at options in the secondary market. Apartments in old houses of the central districts of Budapest are more expensive, but they can also be rented at a high price.