BudaPart
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Overview
A new Danube waterfront district in Budapest, planned to include approximately 15 buildings with a mix of condos, offices, and a marina.
Building/Community Amenities
- 24/7 Security
- Fitness Center / Gym
- Garden / Courtyard
- Parking
- Pool
Investment Insights
Legal & Ownership
Legal & Ownership Information
Ownership Structure
Ownership Rights
Full ownership rights (Freehold)
Foreign Ownership
Foreigners can buy property in Hungary, but they must obtain a permit from the local government, which is generally a formality.
Tax Considerations
Property Taxes
property tax, but owners must pay income tax on rental income, typically at a flat rate of 15%
Transfer Tax
transfer tax on the property's purchase price
Inheritance Tax
Capital gains tax is also applicable at the same rate, but exemptions may apply if the property is held for more than five years
Important Considerations
Restrictions
- There are no restrictions on the type of property foreigners can purchase, although agricultural land purchases may be subject to additional restrictions.
Required Documents
Financing Options
Financing Options
Financing in Hungary
Navigating property financing in Hungary as a foreign buyer is an attractive prospect due to the country's evolving real estate market and favorable mortgage conditions. Typically, loan-to-value (LTV) ratios range around 60-70% for non-residents, providing substantial leverage. Hungary's mortgage market is appealing due to its competitive interest rates and the stability of the Hungarian Forint. With its strategic location in Europe and a growing economy, Hungary presents a compelling case for international real estate investors seeking to capitalize on its promising growth trajectory.
Requirements for Foreign Buyers
- 1Valid passport
- 2Proof of income
- 3Recent bank statements
- 4Hungarian tax identification number
- 5Credit report
- 6Proof of employment
- 7Property valuation report
