Hungary Property
There are various fees attached to purchasing Hungary property. Legal fees are charged at around 1%, agency fees, 3%, while stamp duty costs between 2% and 6%, however, there are some concessions for new-build properties in Hungary.
Overseas nationals can generally obtain a mortgage of up to 70% loan-to-value (LTV) on Hungarian property and borrowing rates currently start from around 5.25%, on a typical tenor of 25 years. All loans are capital plus repayment.
The current cloud surrounding the country’s economy, combined with the political discontent, amongst many of the local people, is a huge concern for overseas investors in property in Hungary. Any Hungary property investment should be perceived as long-term.
A high-level of due diligence and caution is necessary before buying into the emerging Hungary property market.
Some information contained herein may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and/or financial advise from a qualified professional.
