Home buyers from outside EU down 40% from 2019
Photo by Fabio Balbi/Shutterstock.com
Homebuyers from outside the European Union applied for a license to purchase real estate in Hungary in 2,200 cases last year, down 40% from 2019, listed real estate broker Duna House said yesterday, according to profitline.hu.
The decline was mainly due to the international travel restrictions related to the pandemic, Duna House said.
The broker noted that special permission from a government office is necessary if the buyer is not a citizen of a member state of the European Union, the European Economic Area, or Switzerland. Chinese citizens were the biggest group of non-EU buyers on the housing market, making up 39% of the total, Duna House said, citing data from the Prime Minister's Office.
They also purchased the most expensive properties, Duna House added. Israelis and Russians each accounted for 8% of foreign buyers, followed by Ukrainians with 5%. U.S., Turkish, and Serbian citizens also acquired larger numbers of properties in Hungary.
Some 74% of non-EU buyers purchased homes in Budapest.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
