Property for Sale in Hungary

Location, climate, and economy

Hungary is a country located in the central part of Europe and a member of the UN, NATO, and EU.

The country's economy traditionally relies on agriculture (horticulture and viticulture). The following industries are also developed: mechanical engineering, production of communications equipment, measuring instruments, machine tool building, chemical, pharmaceutical, food, textile industries, metallurgy (primarily aluminum production using bauxite deposits), and tourism.

The climate is temperate continental (seasonal differences are pronounced - it is cold in winter and warm in summer). The average temperature in the capital city Budapest in July is +22 degrees Celsius, in January is - 1 degree Celsius.

The real estate market in Hungary: why it is profitable to buy real estate

This country is one of the most visited by tourists (potential tenants) and its infrastructure is at a high level. Real estate prices in Hungary are constantly growing, so the ongoing projects have high liquidity. However, the cost of real estate in Hungary relative to other European countries is still low. Thus, the purchase of real estate in Hungary will be an effective investment in order to save and increase capital. It should be noted that this is also an investment in improving the quality of life, in particular, health since the country has a large number of sources and a well-developed health resort infrastructure:

• the city of Hajdúszoboszló is one of the best balneological resorts in the east of the country with thermal springs, a good climate (a large number of warm days a year, the air is saturated with salt and iodine fumes), the city of Heviz is a well-known balneological resort in western Hungary on the lake of the same name (one of most beautiful and unique)
• Lake Heviz is the only thermal lake in Europe,
• Lake Balaton and a resort location stretching along the coast,
• over a hundred thermal springs in the capital city of Budapest.

Residential real estate in Hungary is widely represented in the country: new facilities with modern apartments are being built, customer reviews confirm the high quality of the residential complexes being built. There are many apartments, houses, cottages, villas for sale in the secondary market. Apartments and flats in renovated old buildings are in particular demand. Investors are interested in options for investing in commercial real estate in the capital, Budapest, because of the opportunity to receive high rental income from entrepreneurs who come and rent space.

The price of real estate in Hungary

According to GEOLN.COM:

• the minimum cost of housing in new buildings per 1 sq.m is 1800 USD
• options on the secondary market are:
• in the city of Heviz: a one-room apartment (63 sq.m) - 58,000 USD, a house (43 sq.m) - 165,000 USD;
• in the capital: a studio (93 sq.m) - 195,000 USD, a house (240 sq.m) - 575,000 USD.

The cost of housing in Budapest is significantly affected by the proximity to the Danube River, the presence of beautiful views from the windows of the building, the proximity to cultural monuments and landscape gardening areas, the location and size of the object, type and condition.

Due to the high dynamics of price changes, it makes sense to use information that is current at the time of the request.

Property types for sale

The following types are on the market:

• residential (primary, secondary) - apartments in Hungary, townhouses, houses, cottages, villas, etc.,
• commercial fund (hotels, shops, offices, etc.),
• land plots.

Real estate website in Hungary

The sale of real estate in Hungary is transparent and safe, however, in order to minimize risks, you should seek advice and legal assistance from experienced professionals. The GEOLN.COM real estate website (with a convenient search interface) contains a real estate catalog, where offers for the sale of objects without an intermediary are presented (both new projects from developers and owners in the secondary market).

Buying property in Hungary by foreigners

Foreign investors have the right to buy residential and commercial real estate basically without restrictions, with the exception of agricultural land and objects protected by the state. Non-EU citizens are required to obtain a purchase permit from their local mayor's office, a process that can take up to three months.

Purchase property in Hungary - make a profitable investment in a promising real estate market.