According to the summer announcement, the government does not intend to extend the validity period of the 5% VAT on new residential properties which is in effect until December 31, 2019.Read more
Over the last 3-5 years, the Hungarian real estate market has gone through tremendous changes. In 2013, there was a slow downturn in the pre-owned home market, followed by an accelerating rise in prices. This rise was moderated in 2017, but the real estate prices are still increasing.Read more
Hungary’s real estate market is in an upward spiral after years of decline due to the real estate market crisis in 2008. The expected growth is five-to-ten percent in the following two years. Beginning in 2014, property prices began to grow by over ten percent. Hungary’s low interest rate, a record low at 1.5%, and a stabilized banking system lured buyers and investors alike. The trust factor has returned to the real estate market in Hungary.Read more
At the end of 2015, the Hungarian government decided to allocate money towards a new subsidy purchase program for young families with children. The minister has set a budget of HUF 40 billion but has said that this could be increase if the demand is high enough. It is important to note that over 80% of the Hungarian population are in favor of this government action. The minister has said that the government is willing to help several hundred thousand families.Read more
While Budapest, the capital of Hungary, may not be the first city that tourists heading to Europe put on their itineraries, it's becoming a new magnet for global real estate investors. Budapest is not as saturated with buyers and sellers as cities that are more on the beaten track. That's only part of its appeal, however. The "Pearl of the Danube" is a world class location with assets that outshine more high profile markets. The advantages to buying property there may never be as ideal.Read more
A new wave of foreign property investors has descended on Budapest, the capital city of Hungary. According to a study recently released by estate agency Otthon Centrum, the first half of 2015 saw an astonishing increase of property transactions in the city. In fact, the total figure was ultimately revealed to be 40 percent higher than the final figure that was reported for the previous year. In a word, the property market for foreign investors in Budapest is booming at a rate that was frankly inconceivable even a few short years ago.
According to a survey taken in January 2016 by GKI Economic Research Company, both Hungarian and Budapest real estate market indices were up by 3 points this quarter, representing a 35-quarter peak: 2007 was the last time the index was this high.Read more
Most certainly the biggest news this week in real estate was Hungarian Parliament passing the bill to reduce the currently 27% VAT on construction on new residential properties to 5% from 1st January, 2016.Read more
The 11th Portfolio Property Investment Forum is organized this year in the Hotel Intercontinental in downtown Budapest.
The all-day professional program is organized in association with RICS, and it offers 70 speakers, paralell thematic sections, and a standing reception in the evening.