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August 12th, 2016

Hungary is among Europe's top 20 places to invest in property!

There is no denying the fact that in Europe Budapest still has great potential for capital appreciation as well as being a pleasant place to live. According to The Telegraph Hungary is among Europe's top 20 places to invest in property.





Hungarian property investments heading the lists

The Telegraph - based on the findings of the Global Property Guide - highlighted good yields, low to moderate transaction costs and pro-landlord laws. But Budapest is also at the forefront of other lists. The Hungarian capital was 12th out of 150 cities listed in Knight Frank’s first-quarter Global Residential Property Index, with prices up 15.5% in the first quarter year-on-year, second only to Stockholm in Europe. Budapest is among the most attractive cities for property investors interested in the Central Eastern European region, according to CBRE’s 2016 EMEA Investor Intentions Survey, published every year.
Low costs

House prices in Budapest are about a tenth of comparable prime locations in London. The cost of living is low, so Budapest is a magnet for the young and trendy and not just the super-rich. For those with more modest budgets, decent central apartments start from US$150,000 before renovation, which is also presently cheap because of low labour costs in Hungary.

Low taxes

Hungary is one of the European Union’s few low-tax destinations, with 15% personal and capital gains tax, albeit VAT is 27%, refundable to foreign shoppers. Corporation tax is also low, as is the cost of labour, so multinational investors are flocking to Hungary.











Strong investor demand for Hungarian properties from all over the world

According to an analysis of CIB Group foreign buyers have started to flock to the Hungarian real estate market. Investors both from the East (Middle East, China, the rest of Asia) and the West (Western European real estate companies and investors) seek Hungarian property investment opportunities. Due to the reduced VAT and the CSOK housing benefit program the bank is also seeing significant interest in residential properties and plots of land suitable for the construction of residential properties in addition to intensive interest in offices, hotels and other investment properties. Every third property was purchased as an investment in Budapest in April. 80% of the total purchase was for investments.





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