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:
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.
If you want to discuss your internationalization and diversification plans, book a consulting session* or send me an email.
*a consulting session is a discussion about your portfolio and objectives. It does not constitute legal, financial, tax or investment advice.