Hungarian real estates in demand among foreigners

Based on recent data from 2016, more than three thousand real estates were sold in Hungary to foreigners. The majority of the buyers are Chinese, Russian and Ukrainian citizens. Foreigners who would borrow also have several opportunities, what is more, in many cases they even receive some state aid, Turizmusonline.hu informs.
A total of 3,163 real estates – mainly houses and flats – were sold to foreigners in 2016. The top three foreign owners are the Chinese, the Russian and Ukrainian. Last year, Chinese bought 1.213, Russians bought 446 and Ukrainians bought 231 real estates. Some foreigners even took out a bank loan, although this opportunity is not so popular yet, Turizmusonline.hu states.

Foreigners may borrow from most financial institutions as locals do, but, of course, the procedure is not the same. It is also matters where they actually come from. Their nationality is not the same, either. When borrowing, nationality matters, but being either a resident or a non-resident client is also an extremely important aspect,

says Krisztián Vincze, manager of the Loans Service Centre of GDN Real Estate Network.

[box type=”info”] Resident clients have an identity document issued by the Hungarian authorities. They have more opportunities than non-resident clients, who do not have such documents. The origin of the client’s regular income also matters. If the client has any income from Hungary, a wider range of opportunities is available, similarly to clients of Hungarian nationality.[/box]