Hungary: real estate on the rise, demand for "Golden Visa" grows

Hungary is becoming increasingly attractive to foreign investors, particularly in the real estate sector. According to Daily News Hungary, demand for real estate in the country increased by 18% in 2023 compared to the previous year.

Almost 3,000 property purchase applications have been submitted by citizens residing outside the European Union, with Russians and Chinese leading the list.

About 72% of foreign buyers prefer to invest in real estate in Budapest, showing particular interest in the 13th, 6th, and 7th districts. Hungary's capital is renowned for its rich history, cultural heritage, developed infrastructure, and affordable real estate prices.

In addition to Budapest, there is growing demand for real estate in the Komárom-Esztergom county, located in northern Hungary. This is due to its picturesque landscapes, developed infrastructure, and affordable housing prices.

In 2023, real estate prices in Hungary increased by 4.5% year-over-year. The most noticeable growth was observed in the cities of Szeged and Debrecen.

In Budapest, the average price per square meter of new real estate reached 3,237 euros, while secondary market prices averaged 2,412 euros.

Starting July 1, 2024, Hungary will begin accepting applications for the "golden visa" - a residence permit through investment. Investors can choose one of the following options:

Investment Fund: Investment of at least 250,000 euros

Real Estate: Purchase of real estate worth at least 500,000 euros (starting January 1, 2025).

Donation: Donation of at least 1,000,000 euros to a Hungarian higher education institution.

Advantages of the "Golden Visa"

10-Year Residence Permit: The residence permit is issued for 10 years, with the possibility of extending for another 10 years.

Family Visa: Status extends to the spouse, children under 18, and the investor's parents.

Free Movement in Europe: The "golden visa" allows free travel and residence in Schengen Area countries.

With its rich history, developed infrastructure, and affordable real estate prices, Hungary is an attractive place for investments. The "golden visa" program opens new horizons for obtaining a residence permit and free travel across Europe.

If you plan to invest in Hungarian real estate and obtain a "golden visa," contact our specialists. We will help you find the perfect property and guide you through all stages of the document processing.