It is common knowledge amongst Hungarian people that Budapest is one of the best places in the World so it is natural if you would like to buy real estate here. Knowing your way in a foreign country’s bureaucratic system can be really challenging but you might as well ask professional help and enjoy the ride. Below we summarise all you need to know in case you are looking for real estate.
In Hungary generally you need three things to buy a house. These are – for Hungarian and EEA member country (full list here) citizens – money, a house for sale and a lawyer. This case you need to agree on the important questions with the owner of the flat, then the lawyer prepares the real estate sale and purchase agreement that the parties sing and the lawyer countersigns and then there is nothing left but to hand it to the local Land Administration Office whose procedure shall make the contract final.
If you are a third country citizen however, there is a fourth condition you have to meet. The government decree No. 251/2014 (X. 2.) on the acquisition by foreign nationals of real estate regulates the rules of acquiring the permit for acquisition of real estate issued by the competent government office.
To obtain such a permit you have to file a request form to the competent government office accompanied by the following documents:
- the copy of your valid travel document or ID card,
- the real estate sale and purchase agreement,
- 1000 HUF administrative fee,
- your criminal record.
The permit shall be issued in case the government office concludes that your acquiring of the real estate does not violate the interest of the public and the local government. If you are the subject of expulsion or entry and stay ban, there is an arrest warrant issued against you, you have criminal record or your stay threatens the public safety, public order or public health, this facts state such violation of interest. As these factors are not affecting 99% of the population however, we can assure you that issuing the permit generally is a mere formality.
Should you find a home for yourself anywhere in Hungary or you simply have further questions regarding real estate, please do not hesitate to contact us.