Balaton Property


Q: Does the buying process take a long time?
• The entire buying process from selecting a suitable property to finishing so you will be the owner will take 1 to 2 months. Also finishing documentation at the land-registry and tax office usually takes about 3 or 5 months. As a rule it takes just one consultation with us to set the ball rolling, you do not have to travel back and forth ad-infinitum.
• On all of this there is one exception and that is for property outside the village borders. As a foreigner you can buy bigger plots (up to10.000 m2), but the time for the buying procedure is much longer. First it was 60 days for the first buying right of Hungarians, but now there is another 60 days in which a government committee (mostly land registry) is going to look whether all procedures are okay and a foreigner can buy, so 60 + 60 + some days for posting etc. will turn out to be about 6, maybe 9 month before you know whether you can buy the property. This is all outside village borders. Inside no problem.

Q: Do you charge costs for a visit?
We love to show you houses or lands during your visit. Also our agents/mediators will be happy to tell more about the village and its surroundings, because you can buy a house but not your surroundings. Hardly anything is for free nowadays and also our agents/mediators need to be careful on the costs. There are agents who have to charge you some costs. When making an appointment, I will obviously tell you that. The costs for day house hunting can be 5,000 forints per part of the day. Should you decide to buy a property through this agent/mediator of course you get a refund on the costs.
Wiith our agents/mediators the visits are up to a maximum of one day. It is not very common, but iif it is neccessary to spent more time the agents/mediators can charge for subsequent days. You have to think of 10,000 forints per day and of course you will get a refund if you buy.

Q: What are the other costs ?
Be aware of the stamp duty / property sales tax. You will get a bill for this roughly 6 months after you purchase your property, from a company called "Sygma”, who collect the stamp duties from foreigners purchasing in Hungary. You will receive this bill direct to your home address, and you will need to make a bank transfer to the account on the invoice. This property tax is a once off payment when you purchase a house.
For non EU citizens arranging permissions from the local mayor and the county authorities is not included. Costs will be around 70.000 HUF.

Q: Did Brexit have effect on buying property in Hungary?
Before Brexit UK-citizens were able to buy in Hungary and live and work there. Having a UK-citizenship you were free to come and go as you wish.
Now UK is a "friendly" country and  you  need to ask for a permission. Will only take a little longer in the process, but can hardly be a problem, unless you are looked for by the police, tax authorities etc. :-). By the way, this was the procedure before Hungary joint the EU.