Guide to buying property in Hungary

Buying Property in Hungary - Cost Purchasing Property

Below are some brief points in purchasing property in Hungary. Aquavista will help you in every step of the process ensuring you peace of mind.

• Hungary is now part of the EU. Any person from a country within the EU can purchase a property in Hungary with legal permission.
• The permit to purchase is prepared by a lawyer, with the only restriction being that a foreign citizen cannot own a property on military land
• A maximum of 2 properties may be held by an individual, after this you must establish a company to hold the properties.
• Property is purchased freehold.
• TULAJDONI LAP is the Hungarian property deed.
• A Contract is prepared detailing the property purchase transaction. The Contract Agreement is binding in Hungarian Law and will be in both English and Hungarian.
• Mortgages are available for a foreign citizen secured on a Hungarian property. Please contact Aquavista for further assistance.
• Stamp duty of 6% is payable on resale property.
• New developments may be free of stamp duty dependent on their size
• Aquavista always recommends you use a solicitor in the purchase of your property. Contact Aquavista for contact details of reputable solicitors with knowledge of the Hungarian property market.
• Aquavista's associates can offer property management services.
• Long term letting is very feasible in Hungary. Our associates can assist in finding reputable tenants.
• The UK and Hungary have a double taxation agreement.
• UK nationals are able to receive accident and emergency treatment free of charge as long as they have an E111 form available free from all post offices. However the E111 does not cover all medical fees or on-going medical treatment of a non-urgent nature.
• Capital gains of 20% tax is payable on profits if an individual owns and sells a property.
• Similarly, if the property is sold from a company, corporation tax of 16% is payable on profits.

Aquavista has the experience, contacts and knowledge to make the process of buying a property completely hassle free.

The price paid for a property with Aquavista is the same as buying direct with a developer, but with the extra saving in the time, advice, reassurance, peace of mind and having no pitfalls.

Buying Property in Hungary - Cost Purchasing Property