Accommodation Hungary

Renting accommodation in Hungary, whether for a short or long term, requires an understanding of local specificities and procedures.

Finding accommodation

Online platforms: Websites such as Airbnb, Nestpick, and HousingAnywhere offer a wide selection of apartments and houses for rent. These platforms allow you to filter listings by price, location, and rental term.

Local real estate agencies: Turning to agencies can simplify the search process, especially if you do not speak Hungarian. Agencies can help find a place that matches your requirements and provide legal support.

Social media and forum ads: Many landlords post rental ads in Facebook groups or specialized forums. However, be cautious and verify the information's credibility.

Types of rental

Short-term rental: Suitable for tourists or those planning to stay in the country for a few weeks or months. Typically, such offers are fully furnished and include all necessary amenities. Platforms like Airbnb offer many options for short-term rentals.

Long-term rental: Designed for those planning to live in Hungary for over a year. These properties can be either furnished or unfurnished. Long-term rentals often require an official contract and a deposit.

Useful tips

Legal support: It is recommended to consult a lawyer before signing a contract to avoid possible misunderstandings.

In Hungary, a rental or purchase agreement plays a key role in ensuring legal protection for the parties and serves as a basis for carrying out a number of administrative procedures.

Legal protection: A written agreement establishes the rights and responsibilities of the parties, preventing possible disputes and misunderstandings.

Registration of residence: To officially register your place of residence, you need to provide a rental agreement or proof of ownership.

Obtaining a visa and residence permit: When applying for a visa or residence permit, you need to confirm the availability of accommodation by providing the relevant agreement.

Opening a bank account: Many banks require proof of address, for which a rental or purchase agreement is needed.

Connecting utilities: To sign contracts with electricity, gas, and internet providers, you need to provide documents confirming your right to use the property.

In Hungary, both furnished and unfurnished apartments are available. Furnished options are more common for short-term rentals, especially in tourist areas and major cities like Budapest. For long-term rentals, unfurnished apartments are often offered, allowing tenants to set up the home to their liking. A deposit equivalent to one month's rent is typically required. The deposit is returned upon departure if the property is left in good condition. According to the information, real estate agencies in Hungary receive commissions from the owner, not the tenant. Be cautious if a company asks for money to provide addresses of suitable apartments for viewing and renting, as this may be a scam.

Buying real estate in Hungary is a process that requires a careful approach and understanding of local specificities.

Selecting a real estate property

Determining objectives: Decide on the purpose for which you are purchasing real estate—whether for your own residence, investment, or rental purposes.

Location: Popular regions for purchase include Budapest, Lake Balaton, and cities with developed infrastructure.

Type of real estate: Choose between an apartment, house, or plot of land. Note that the purchase of agricultural land is restricted for foreigners.

Searching for real estate

Online platforms: Use sites like Ingatlan.com and Otthonterkep.hu to search for listings.

Real estate agencies: Consulting local agents can help find suitable options and simplify the purchase process. In Hungary, real estate agency fees typically range from 3% to 5% of the market property value, with an additional VAT of 27%. In most cases, this commission is paid by the seller, not the buyer.

In Hungary, property insurance is voluntary and is not a mandatory requirement for owners. However, if you purchase property using a mortgage loan, banks usually require you to take out an insurance policy as a condition for granting the loan.

Paying utility bills in Hungary has its specifics that are important to consider when living in the country.

Main utility services

Electricity: Provided by various companies such as E.ON and MVM.

Gas: The main supplier is MVM.

Water Supply: Provided by local water companies.

Heating: Can be centralized or individual, depending on the type of housing.

Garbage Collection: Organized by municipal services.

Payment methods

Bank Transfer: The most common method. Bills contain banking details and a unique payment identifier that must be specified during payment.

Payment Terminals: Bills are often accompanied by payment slips that can be paid at post offices or banks.

Online Banking: Many banks offer the possibility to pay bills through online banking, which is convenient and fast.

Automatic Withdrawal: You can set up automatic debits from your bank account to pay utility bills.

Features

Payment Deadlines: Bills are usually issued monthly with a specified due date. It's important to adhere to these deadlines to avoid penalties.

Unified Bill: In apartment buildings, residents pay for common expenses for building maintenance, such as cleaning, lighting in common areas, and repairs.

Subsidies: The Hungarian government provides subsidies for utility services to certain categories of citizens. Foreign nationals may not be eligible for these subsidies, so it's recommended to clarify terms with service providers.

Recommendations

Keep Receipts: Store all payment receipts in case of disputes or audits.

Check Bills: Regularly verify the accuracy of charges and contact service providers for clarification if necessary.

Language Barrier: Bills and information from service providers are usually provided in Hungarian. If you do not speak the language, it's recommended to use a translator or ask for help from acquaintances.

Basic living rules

Respect for Quiet

Quiet Hours: Most buildings have periods during which noise should be minimized. This is usually from 10:00 PM to 6:00 AM.

Renovation Work: Noisy renovation work is recommended to be carried out during the day and coordinated with neighbors or the management company.

Use of Common Areas

Cleanliness: Residents are obliged to maintain cleanliness in corridors, elevators, stairwells, and other common areas.

Storage of Personal Belongings: It's prohibited to leave personal items (bicycles, strollers, etc.) in common areas without permission.

Pets

Keeping: Permitted, provided that animals do not disturb neighbors and do not pollute common areas.

Rules: Some buildings might have restrictions on keeping certain types or sizes of animals.

Security

Access: Ensure the entrance doors are closed and do not allow strangers into the building.

Fire Safety: It's prohibited to block emergency exits and store flammable materials in common areas.

Parking

Spaces: Use of parking spaces should comply with designated areas and not obstruct movement of other residents.

Guests: It's recommended to inform the management company about guest vehicles if this is stipulated by the house rules.

Building Management

Apartment buildings in Hungary are usually managed by a residents' association or a management company. They are responsible for:

Residents Meetings: Regular meetings to discuss management issues, budgets, and solving common problems.

Fees: Monthly payments for maintenance of common areas, repairs, and other needs of the building.

Internal Regulations: A document that sets specific behavior norms and usage of common areas.

The Hungarian real estate market attracts attention due to the combination of affordable prices, stable growth, and favorable conditions for investors.

Affordable housing prices

Compared to other European Union countries, real estate prices in Hungary remain relatively low. For example, the cost of apartments in Budapest is 20% cheaper than in Ljubljana and Madrid, and 30% cheaper than in Lisbon. Since 2015, housing prices in Hungary have increased 2.5–3 times, indicating stable real estate market growth.

Property prices by cities and regions

Budapest

Average price per square meter:

- Central districts (V, VI, VII): ~2,700 – 4,000 euros.

- Suburban districts (IX, XIII, XIV): ~1,900 – 2,700 euros.

Types of properties:

- Apartments in historical buildings: high ceilings, unique architecture.

- Modern apartments: new constructions with modern amenities.

Debrecen

Average price per square meter: ~1,100 – 1,600 euros.

Features: major university city; developed infrastructure and transport network.

Szeged

Average price per square meter: ~950 – 1,500 euros.

Features: cultural and educational center of southern Hungary; high rental demand among students.

Lake Balaton

Average price per square meter:

- Shoreline: ~2,200 – 3,300 euros.

- Inland areas: ~1,350 – 1,900 euros.

Features: popular tourist region; high potential for short-term rentals.

Győr

Average price per square meter: ~1,100 – 1,500 euros.

Features: industrial center with a developing economy; proximity to the Austrian border.

Possibility of obtaining a residence permit

Property owners in Hungary can obtain a residence permit for 10 years. To do this, it is necessary to purchase a residential property worth at least 500,000 euros.

Diversity of property types

The market offers a wide selection of properties: from historical apartments in the center of Budapest to modern houses in the suburbs and resort areas such as Lake Balaton.

Types of properties

Apartments:

- Studio apartments: popular among students and young professionals; prices start from ~68,000 euros.

- Multi-room apartments: in demand by families; prices range from ~110,000 – 270,000 euros.

Houses:

- Townhouses: within city limits, with a small plot of land.

- Country houses: in villages and suburbs; prices can be significantly lower than in urban areas.

- Villas and mansions: Located in prestigious areas and near Lake Balaton; prices can exceed ~540,000 euros.

Living conditions

Infrastructure: Developed transport network: metro, trams, and buses in Budapest; high-speed internet and modern communications.

Education: Quality public and private schools; prestigious universities in Budapest, Debrecen, and Szeged.

Healthcare: Access to public and private medical institutions.

Rental market

In large cities like Budapest, there is a high demand for rental housing, especially among students and tourists. This creates favorable conditions for investors interested in renting out properties:

Budapest: Average rent for a studio apartment: ~410 – 550 euros; high demand among students and expats.

Debrecen and Szeged: Average rent: ~270 – 410 euros per month; stable demand due to universities.

Market trends

- Increase in demand for new buildings: modern amenities and energy efficiency attract buyers.

- Price growth in the suburbs: due to increased remote work and the desire to live in quieter areas.

- Investments in tourist facilities: especially in regions of Lake Balaton and thermal resorts.

Quality of life

- Safety: low crime rate.

- Ecology: clean air and numerous green zones.

- Cultural life: theaters, museums, festivals, and historical landmarks.

Popular regions for investment

- Budapest: the capital with a developing real estate market and high rental demand.

- Lake Balaton: tourist center with potential for short-term rentals and recreation.

- Western Hungary: proximity to Austria and Slovenia makes the region attractive for cross-border workers.

Future forecasts

- Stable market growth: experts predict an annual price increase of 5-7% in the coming years.

- Infrastructure development: government investments in roads and public transportation.

- Strengthening of environmental standards: increased demand for energy-efficient homes and apartments.

Thus, the Hungarian real estate market offers ample opportunities for purchasing and investing. The diversity of property types, reasonable prices, and high quality of life make the country attractive for living and doing business.

Hungary, located in Central Europe, attracts immigrants with its rich cultural heritage, high quality of life, and relatively low expenses compared to other European Union countries. Below is detailed information on the cost of living in Hungary, as of November 2024.

Accommodation

Housing rent:

Budapest:

- One-bedroom apartment in the city center: about 550 euros per month.

- One-bedroom apartment outside the center: about 410 euros per month.

Other cities:

- One-bedroom apartment in the city center: about 330 euros per month.

- One-bedroom apartment outside the city center: about 250 euros per month.

Real estate purchase:

Budapest:

- Price per square meter in the city center: about 2,700 euros.

- Outside the city center: about 1,900 euros.

Other cities:

- Price per square meter: from 1,100 to 1,600 euros.

Utilities

Monthly expenses (electricity, heating, water, garbage disposal) for an apartment of 85 m²: about 50,000 forints (~135 euros).

Internet: High-speed connection: about 7,000 forints per month (~19 euros).

Food

Average prices:

- Milk (1 liter): 400 forints (~1.1 euros).

- Bread (500 g): 500 forints (~1.35 euros).

- Eggs (12 pcs.): 800 forints (~2.2 euros).

- Chicken fillet (1 kg): 2,500 forints (~6.8 euros).

- Apples (1 kg): 600 forints (~1.6 euros).

Transport

Public transport: Monthly pass in Budapest: 10,500 forints (~29 euros).

Taxi: starting fare: 1,000 forints (~2.7 euros); price per kilometer: 400 forints (~1.1 euros).

Entertainment and leisure

Restaurants:

- Lunch in an inexpensive restaurant: about 3,500 forints (~9.5 euros).

- Three-course dinner in a mid-range restaurant: about 15,000 forints (~41 euros).

Fitness club: Monthly membership: about 12,000 forints (~33 euros).

Cinema: ticket: about 3,000 forints (~8 euros).

Clothing and footwear

- Levi's jeans: about 25,000 forints (~68 euros).

- Summer dress at Zara or H&M: about 15,000 forints (~41 euros).

- Nike sneakers: about 35,000 forints (~95 euros).

Average salary

Net salary: country average: about 450,000 forints per month (~1,230 euros); in Budapest above average, about 500,000 forints (~1,370 euros).

Hungary offers a relatively low cost of living with a high quality of services and infrastructure. This makes the country attractive for immigrants seeking a balance between expenses and the standard of living.

Hungary has various government support programs and subsidies aimed at improving living conditions, supporting families, and boosting economic growth.

Family support program

Provides financial assistance to families for purchasing or constructing housing. The subsidy amount depends on the number of children and the type of property.

Green Home program

This initiative aims to support the construction of energy-efficient homes. The government offers concessional loans with low interest rates for building or purchasing highly energy-efficient housing.

Subsidies for utility services

The Hungarian government provides subsidies for the payment of utility services for certain categories of citizens, including retirees and low-income families.

Support program for small and medium-sized businesses

Entrepreneurs have access to various grants and subsidies aimed at business development, innovation, and job creation. These programs are often co-financed by the European Union and include tax incentives, training, and consulting services.

Scholarship programs for students

Hungary offers scholarships for foreign students, attracting students from various countries to study at Hungarian universities.

Social Benefits

The state provides various social benefits, including unemployment benefits, assistance for families with children, and support for people with disabilities. The amounts and conditions for receiving these benefits depend on the specific situation and the applicant's income level.

Refugee Support Program

Hungary provides temporary protection and support for refugees, including access to housing, medical care, and education. However, the conditions and extent of support may change, so it is recommended to contact the relevant government authorities for up-to-date information.