Language
Hungary
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Area: 92,340 km2 Population: 9,930,915 Capital: Budapest Language: Hungarian Currency: Forint Major religion: Roman Catholic (52%) (Source: CIA; July 2008) |
Hungary is one of the Eastern European countries that is starting to attract more and more overseas second home buyers. It might not be located favourably at the sea side, but its capital is considered to be one of the most amazing cities in the world.
Living in Hungary
Budapest, also known as the Pearl of the Danube, is rich in cultural treasure and welcomes many tourists each year. The capital, divided by the Danube in Buda and Pest, offers many sights. Budapest has over 200 museums, 40 theatres, speleothems, a gorgeous parliament building and many historical, and also modern buildings. There are a lot of medicinal springs and baths, like in the rest of Hungary. It is not surprising that most overseas buyers are searching in and around Budapest.
A second major attraction is Lake Balaton, the largest lake in Central Europe. The lake is shallow and very popular among sun lovers and suitable for water sports in the summer. The number of sun hours is fairly high in Hungary, especially in July.
A second major attraction is Lake Balaton, the largest lake in Central Europe. The lake is shallow and very popular among sun lovers and suitable for water sports in the summer. The number of sun hours is fairly high in Hungary, especially in July.
The Hungarian property market
The demand for Hungarian homes has increased dramatically these past few years and the country has experienced a strong economic growth. This means that house prices in Hungary have also increased. Those who bought a second home in Hungary right before the country joined the EU made a great investment. Hungarian house prices are still low compared to the European standard. It is expected that house prices will continue to increase in the future, especially with the arrival of the euro.
The price of a Hungarian house may vary per region. In popular areas such as Budapest and Lake Balaton prices are much higher. The average increase in value is between 7% and 10%.
The price of a Hungarian house may vary per region. In popular areas such as Budapest and Lake Balaton prices are much higher. The average increase in value is between 7% and 10%.
Buying a home in Hungary
When you have found your second home, you will have to ask permission from the Hungarian government to buy it as an overseas buyer. Please click here for more information about the permission. Here you will also find other important information about buying and owning a second home in Hungary.
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Is Hungary your ideal country to buy a second home? Find a suitable second home in the range of Hungarian homes of MySecondhome.
