Property in Hungary for a residency permit
The CBI website offers a wide range of properties for foreigners wishing to buy property in Hungary and get a residence permit. You can find studios, apartments, penthouses, duplexes, townhouses, villas, and other types of real estate that meet the conditions of the country's immigration program.
The best locations to buy property in Hungary are:
- Budapest: The capital and largest city of the country. Its real estate is popular among buyers and renters due to its developed infrastructure, vibrant nightlife, and numerous attractions. Districts V, VI, and VII are especially popular among tourists and expats, making them ideal for short-term rentals, while districts II, XII, and XI attract long-term tenants.
- Debrecen: The second-largest city in the country, known as an educational hub. The University of Debrecen draws students from around the world, leading to a steady rental market for student housing.
- Pécs: One of the most popular tourist destinations in the country, famed for its Mediterranean-like atmosphere and rich cultural heritage. The city’s mild climate attracts both tourists and students due to its top-notch universities.
- Győr: Due to its proximity to European capitals like Vienna and Bratislava, Győr benefits from its strategic location and growing economy. It is also an industrial powerhouse, hosting factories for global companies such as Audi.
- Lake Balaton Coastline: This area thrives on tourism. Lake Balaton is a renowned natural attraction for both locals and international visitors. Here, you can find homes and apartments with breathtaking views.
Residence permit in Hungary by buying property
Starting from January 1, 2025, foreigners will be eligible for a golden visa by investing in property in Hungary. The minimum value for this immigration program must be €500,000. Upon purchase, participants must enter into a sale agreement with a condition that prohibits reselling the housing unit for the next five years.
Additionally, there is a residence permit in Hungary for digital nomads. The "White Card" can be obtained by self-employed individuals, business owners, or employees of companies operating outside the EU. Applicants must prove a monthly income of at least €3,000 and either buy or rent properties in Hungary.
Investment real estate in Hungary
Amid a macroeconomic shift towards recovery, the market of houses and apartments in Hungary is showing the first signs of price growth. Lower interest rates are revitalizing mortgage lending, while the limited supply of properties is driving demand.
Preliminary data from the Hungarian National Bank's real estate price index indicate a slight decline in Q4 2023 compared to the previous quarter (-0.7%). However, year-on-year growth of real estate for sale in Hungary accelerated in H2 2023 (for the first time since early 2022), reaching 4.42% in Q3 and 5.8% in Q4.
The rising property prices in Hungary attract investors looking to profit from resales. Meanwhile, many investors earn income through rental businesses. As of Q1 2024, the average gross rental yield here reached 5.75% annually, continuing to rise from 5.09% the year before.
According to Hungarian law, foreigners can purchase any property for sale in Hungary except for agricultural land and historical monuments. In some cases, they may need to obtain a license before finalizing a deal. Special permission is not required for citizens of EU member states, Norway, Liechtenstein, Iceland, or Switzerland, nor for those inheriting or acquiring property through a Hungarian company.
Foreigners outside these groups must apply for a license through local government authorities to check their criminal background and receive entry permission.
Yes, foreigners will be able to apply for a golden visa by investing in property in Hungary, provided the purchase is made after January 1, 2025. Digital nomads can also apply for residency by purchasing or renting real estate and meeting additional requirements.
Applicants for the golden visa must purchase properties in Hungary for investment worth at least €500,000. There is no minimum investment threshold for digital nomads applying for a "White Card," but rental contracts must have a monthly value of at least €800.
Popular cities for buying apartments or houses in Hungary include Budapest, Debrecen, Pécs, Győr, and the Lake Balaton area.
Golden visa holders can apply for permanent residency after three years of living in the country, and for citizenship after eight years. To obtain citizenship, residents must pass an exam demonstrating knowledge of the official language.