Real estate prices have been booming in many markets, particularly outside of the main cities. Hungary is no exception. Prices have seen solid growth in rural Hungary, particularly near major cities. The outskirts of cities have also fared well, whilst prices have crashed hard in downtown Budapest as I documented in my previous article.
However, prices are still very reasonable in rural parts of Hungary that are quite far from the main urban centers. I looked online, browsed through many local Hungarian real estate websites, and found a house that is really cheap, and in a rather appealing location.
This house of almost 100m2, costs 16,000 euros, and has a lovely orchard of 5,000m2. It is located a few hundred meters away from the Slovak border, and a mere kilometer away from Ukraine. I therefore got my friend to call the owner (I don’t speak Hungarian), set up an appointment, jumped in a car, and went to check it out.
Residency is easily attainable for EU passport holders
Essentially, you either need to own real estate in Hungary, or sign a local lease agreement. So even such dirt cheap real estate would qualify you and your family for residency in (low tax) Hungary.
You can watch the video here.
Residency in Hungary is also available to non-EU people through real estate investments.
I’ll come up with content on this, as it is a little-known programme that is really appealing for non-EU people who would like to live in a safe, low-tax environment in the European Union. The minimum real estate investment is approximately 180,000 euros. If you have any questions concerning this, feel free to get in touch with me. I’ll put you in touch with the right people in Budapest.
I showed this video to a friend of mine and he asked me whether Benedek, my buyer’s agent in Budapest, can help people source rural real estate in Hungary. Unfortunately he cannot. Benedek’s core expertise is the central Budapest market.
To a World of Opportunities,
The Wandering Investor
Articles on Hungary:
- A Real Estate Investment in Budapest, Hungary?
- The Hungarian Forint is crashing – great value real estate in Budapest
- Price drops of 30% in downtown Budapest (June 2021)
- How to maximize Airbnb yields when you invest in Budapest – up to 10% net yields
Available services in Hungary:
- A Real Estate Lawyer in Budapest, Hungary
- My favourite buyer’s agent in Budapest, Hungary
- Residency-by-Investment in Hungary for non-EU people
If you want to read more such articles on other real estate markets in the world, go to the bottom of my International Real Estate Services page.
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That part of Hungary is infested with gypsies.
So I wish good luck to anybody who may want to hang onto their belongings.
One of my uncle moved away from his” rural property ” because of the constant issues with property theft. His property is still there but now gypsies moved in and started to occupy the place.My uncle has no way of get rid of them
To add Insult to injury some of these A holes got hurt. The local government wants my uncle to fix the place on his own money to the tune of several thousand Euros.
So all in all there is reason the places in Hungary are dirt cheap.7
I didn’t hear you comment on offering lower price in rural areas. Is it the same as city 4-5%…my wife and I are looking for retirement property in Lake Balaton area. Seems like prices are high in this area, maybe due to people escaping the city during COVID like they did in the states.
Prices around Balaton have skyrocketed