Development Projects Budapest
Since the fall of Communism Budapest has become an extremely popular and exciting city in terms of small and large-scale develpment projects. With a huge increase in foreign visitors and the proliferation of large multinational companies looking to invest in the area, the real estate market has become an extremely worthwhile area for investment, and there are many development projects in progress at the current time, with accommodation and office-space properties in constant high demand.
We are currently involved in several large development projects in Budapest, largely located in the city centre and the more lucrative areas of Buda, and we are looking for committed and serious business people to invest in the huge potential of some of these properties, with a large amount of people, including both foreign nationals and Hungarian-born businessmen, looking to invest in luxury properties in order to gain a maximum return on investment, something that, as always, we will be very keen to help you, the client, achieve.
Property Facts About
Since 2004, when Hungary joined the EU, purchasing property in Budapest has become considerably easier, with much of the bureaucracy of the past that previously slowed down the entire process no longer an issue. Apart from public-owned or military-owned property, foreign investors are free to purchase property in any area of the country, meaning that investing in the Budapest real-estate market has never ben easier.
Property Buying Information
Despite the changes in the system, we still recommend that you hire a local lawyer to assist you with the purchasing process, in order to ensure a smooth transaction with no legal concerns. To start with the lawyer will assist you in applying to the local government in order to obtain a permit which allows non-Hungarian citizens to buy real-estate in the region. This can be expected to take up to thirty days.
Once you have got permission from the local authority and agreed on a price for the property, you are expected to pay a deposit of 10% to the seller and a purchasing contract is signed and sent to the local land registry office in order for the property to be signed over to you, as the purchaser of the property, which can take from 4-8 weeks. However, once the transfer has been enacted and the remainder of the cost of the property is paid to the seller, you are then able to claim ownership of the property.
If you are interested in the opportunity to invest in the Hungarian real-estate market, please take the time to browse the wide selection of properties that you can find on our website, and do not hesitate to contact us if you have any queries.
