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Buying Guide for buying property in Hungary
Basic
Facts - Buying
Process - Costs
Visa
/ Residency - Health
Population: 10 million
Capital: Budapest
Native Language: Hungarian
Currency: forint (HUF)
Dialling Code: +36
Emergency Services: 112
Embassy: www.huemblon.org.uk
- There are no restrictions to foreigners purchasing in Hungary. Purchasers can buy as individuals or as a Company with positive and negative points for each.
- Once a property has been found a pre-contract is signed both parties detailing the procedure of the sale. A deposit of 10% is required. The contract is legally binding and if the buyer pulls out of the contract they lose their deposit. If the seller pulls out then they have to pay double the deposit to the buyer
- If purchasing as an individual, permission to purchase must now be applied for. This takes up to 3 months.
- On signing the final contract at the Notary, the outstanding balance is paid, and the sale is registered at the Land Registry.
- Stamp Duty: As an individual 6%, as a company 2% and if the property is held for 2 years or more an additional 4% is payable
- Legal fees: 1%
- To set up a company: GBP1000
- Estate agency fees: 3%
Hungary is a full member of the EU
Healthcare in Hungary is of a very good standard. Members of the EU receive free emergency treatment. Private healthcare is advisable.