Hungary: real estate prices are rising, but attractiveness for investors is growing

The Hungarian real estate market is showing a steady increase in prices. According to data from the Central Statistical Office of Hungary, in the first quarter of 2024, the cost of new properties rose by an impressive 14.5%, while secondary properties increased by a somewhat lesser 8.2%. Average prices per square meter on the secondary market start from €1,315, while for new builds, they start from €2,940.

Not only purchasing but also renting housing in Hungary is becoming increasingly expensive.

According to the publication Daily News Hungary, rental prices are rising by an average of 1-2% each month.

In June 2024, renting an apartment in Budapest cost from €636 per month.

Despite rising prices, interest in Hungarian real estate from foreign investors remains strong. A new program comes into effect on January 1, 2025, allowing investors to obtain a residence permit in Hungary through real estate investments. The so-called "Golden Visa" offers the investor and their family several advantages:

• Free movement across Schengen Area countries.
• The ability to open accounts in international banks.
• The prospect of obtaining permanent residency and Hungarian citizenship in the future.

There are two main investment methods to obtain the Hungarian "Golden Visa":

• Purchase of shares in real estate investment funds starting from €250,000.
• Donation to a higher education institution starting from €1,000,000.

Advantages of the Hungarian Residency by Investment Program:

• Quick processing: Residence status is granted for 10 years with the possibility of renewal.
• Family relocation: The investor's spouse and minor children can accompany them.
• High standard of living: Hungary offers comfortable living conditions, developed infrastructure, and rich culture.

The process of obtaining the Hungarian "Golden Visa" has its nuances and requires professional guidance. Specialists at Mercury Group can help you:

• Choose the optimal investment option.
• Prepare all necessary documents.
• Navigate all stages of the residence permit acquisition process.

If you dream of living in Europe and want to secure a stable future for your family, investing in Hungarian real estate could be an excellent solution.

Contact the experts at Mercury Group for a detailed consultation!