Question 1

Who can buy property in Hungary?

Accepted Answer

Anyone can buy a property in Hungary, they just have to go through an approval process from the land registry office, everyone gets approved if the process done correctly, the difference is either between a European citizen or a non-European citizen: European citizen -  approval process up to 72 hours, ownership can be almost immediate.  Non-European citizen -  the approval process takes up to 60 days and after approval ownership of the property is granted.

Question 2

How do you pay for the property?

Accepted Answer

Depends on the type of property and the type of citizenship. European citizen- once the price has been agreed upon, lawyer needs to prepare a purchase contract, at the time of signing the contract, you should pay 20% in advance and 80% after receiving the approval from the authorities.  A Non-European citizen- after agreeing on the price, the lawyer prepares a purchase agreement, the buyer pays 20% in advance, immediately after the lawyer registers a warning note on the property in the Land Registry Office, which can be seen that the property is in the process of being sold, after receiving the approval, the buyer pays 80% and ownership is fully transferred on the buyer's name.

Question 3

Fees & expenses on top of the purchase price?

Accepted Answer

There are 2 expenses that are on top of the purchase price. Lawyer's fee of 1% of the total cost of the property, the fee is paid together with the 20% advance for the property. Property tax,  anyone who purchases a property in Hungary must pay 4% property tax, the tax is paid within 90 days from the date of completion of the transaction, the tax can be paid through the lawyer.

Question 4

Do you manage the property for us?

Accepted Answer

Of course, you have the option to choose us as the managers of your new property. The company manages hundreds of properties in Budapest, most of which are owned by our international clients and they do not have the ability or desire to manage their property, and they trust us to do it for them in the best way.

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