If your apartment is priced correctly, it can be sold within 1-2 months. If your apartment is on the market for sale for over 3 months and there has not been any interest, please ask for a second opinion on its real value and correct the price if necessary.

It depends on many factors. There is no exact best time which works for every flat. Springtime is usually a busy season when many buyers are around and so the autumn. However it depends on the parameters of your apartment. If your flat becomes dark from the trees opposite your windows, then start to advertise it in the wintertime when the leaves have fallen off. In case your flat is in a noisy touristy area, put it on the market in a low tourist season.

Yes, you can. I do advise it only if your tenant keeps the apartment in a perfect condition and order, he/she is at home most of the days and allows potential buyers to view the property at daylight. It is also essential that he/she tells only nice things about the flat, the neighbours or the common affairs of the building. Last but not least the rental fee should be high enough to make it attractive for an investor.

Yes, you can. Usually it is not a problem at all. In such cases the value of the furnishing is always included in the price of the apartment. You can rarely expect an extra income for the used furniture.

Usually it does not make sense to spend any penny on the flat once you decided to put it on the market. There are some exceptions when a fresh painting or a little repair work can help a lot to make a better impression and achieve a higher price. I always tell my clients my suggestions after the visit of the property.

No, you do not have to come if you can not or do not want to. You can leave a Power of Attorney to your lawyer who will represent you during the complete sales procedure.

The agency fee is 4% of the sales value.

Are you interested to know what I can offer you what large agencies can’t?

https://connectbudapest.com/2023/02/09/why-to-choose-an-independent-agent-instead-of-a-larger-agency/

I do advertise your property online both for the local market and for the international market. Your apartment will be offered to several local real estate partner agencies to share it within their database. I work together also with property management companies, lawyers and accountants with a clientele of foreign investors. Youtube videos, Facebook posts can attract buyers and so a “for sale” board in the window of the apartment.

The national currency in Hungary is the HUF. However it is possible to advertise and fix the price of the apartment in EUR. There are international buyers and some Hungarian buyers with EUR savings who can agree on a EUR price in the Sale and purchase agreement. However I need to tell that the majority of the transactions are made in the local currency.

Yes, you can. No need of having a local bank account. The buyer can transfer the purchase price directly to your foreign bank account. As an alternative the buyer can make the bank transfer to the escrow account of your lawyer in Hungary who can forward the funds to you.

Yes, you have to pay Capital Gains Tax if you sell the apartment within 5 years from the purchase. After the 5th year, you can sell it taxfree.

You need to have the Energy certificate and the Electrical safety inspection report of the apartment. Further to these documents, the Deed of foundation and the House rules of the condominium have to be given to the buyer’s lawyer as well. For the signing of the Sale and purchase agreement, you need only your passport (if you are living in Hungary, your address card and tax id are needed as well). However if you can not be in Budapest for the signing of the SAP agreement, you need to send an official power of attorney to Budapest.

If you are an EU citizen, then you do not need. However if you are coming outside of the EU, then you need a permit to own an apartment in Budapest. The permit of the Government Office is arranged by your lawyer after having signed the purchase contract and paid the deposit. Its costs is around 300 EUR including related legal fees. The Government Office has 60 days to issue or reject the permission. The ownership of a non-EU citizen can be registered in the Land Registry Office upon the receipt of this permit.

Yes, all the apartments listed on my webpage are freehold.

As the currency in Hungary is the Hungarian Forint, in general Hungarian sellers advertise their apartments for a HUF price. However foreign sellers prefer to fix their prices in EUR, in these cases the HUF price depends on the actual exchange rate of currencies.

No, you do not need to have a Hungarian bank account to buy an apartment in Budapest. You can transfer the purchase price directly to the seller’s bank account or if you prefer, you can do the transfer through your lawyer’s escrow account.

In case you are an EU citizen – no need of permit – cash buyer, the whole transaction is only a matter of days and you can receive the keys right after the payment of the purchase price. If you are non-EU citizen or you buy with a bank loan, the completion takes usually 2-3 months from signing the sale and purchase agreement. In both cases, the registration of ownership in the Land registry office takes 30-60 days following the payment of the complete purchase price.

No. If you can not be present at the date of the contract signing, you can give a Power of Attorney to your lawyer or any third party to act on your behalf. You can sign the PoA either in person while you are in Budapest or in the Hungarian Consulate in your country. If you are living far from the consulate, you can sign it at a public notary as well, however in this case the PoA needs to have apostilled as well to be acceptable by the Hungarian authorities.

At least 10% deposit has to be paid at the contract signing. We call it also downpayment which means that the buyer looses this deposit if he/she does not complete with the purchase of the property and the seller has to pay back its double if he/she breaches the contract.

Local bank financing is available only for foreign individuals who live and work in Hungary. Banks provide loans only for those who have a local address card, Hungarian tax card and an existing employment contract. If all these documents are available, then I can help with the arrangement of bank financing.

It depends on your property purchase plans. Budapest has 23 districts, the central Pest districts (V, VI, VII, VIII, IX, XIII) and the central Buda districts (I, II, XI) are all good choices.

Yes, it is always the lawyer of the buyer who prepares the contract. You decide which lawyer you choose to work with, but it has to be a Hungarian lawyer who is member of the Chamber of Lawyers. If you do not have any personal contact in Budapest, I can offer you the legal services of my husband, dr. Zoltán Baranyai – https://drbaranyai.hu/ – who is in practice since 2004 and has large experience in property transactions with both local and foreign clients. All his legal documentation are prepared in English and Hungarian language as well.

In general the advertised prices include only the built-in furniture like kitchen cupboards with appliances or bathroom fittings, but they do not include any other items. An apartment can be advertised also fully furnished – quite typical by investors – but in this case the ad says clearly that the price includes the complete furnishing.

I am happy to act as a buyer’s agent to assist buyers in finding the most suitable property. This includes a wide range of services:

• understanding the needs and preferences of the buyer;
• continuous screening of the market to allocate the most suitable offers;
• contacting the advertisers of the various apartments to find out the hidden details;
• narrowing the selection of offers due to continuous correspondance with the buyer;
• booking of the viewings of the selected apartments;
• gathering further information from building management companies, property managers or city councils;
• comparison of offers in terms location and other parameters of the condominium and the apartment;
• preparation of a written offer to the seller;
• negotiating the best price with the seller;
• assistance during the whole purchase process till the ownership of the buyer is registered and keys are handed over;
• acting as an authorized person in the purchase process or during the handing over of the apartment if required;

To act as a buyer’s agent there is an agency fee of 2% of the purchase price of the apartment.

For more information about the benefits of having a buyer’s agent, please visit https://connectbudapest.com/2025/02/10/what-are-the-benefits-of-working-with-a-buyers-agent/

I can recommend your my husband, dr. Zoltán Baranyai (https://drbaranyai.hu/) who is in practice since 2004 and has been working for many of my clients. He is specialized in real estate, inheritance and company law. He speaks English and all his legal documentation is prepared in both Hungarian and English language.

Yes, of course. If you have already a lawyer in Hungary, you can use his services for the sale or the purchase of an apartment. Please note that you can not use your lawyer based abroad, the sale and purchase agreements can be prepared only by lawyers registered in the Hungarian Chamber of Lawyers.

Yes, contracts are prepared in English and Hungarian if one of the parties is non-Hungarian. However according to law it is always the Hungarian text which is legally binding.

Legal fees for the sale and purchase contract are 1% of the purchase price.

Despite of some countries, in Hungary the payment of the purchase price does not have to go through a lawyer’s escrow account. The buyer can pay directly to the bank account of the seller. The ownership registration of the buyer is filed in to the Land Registry office by the lawyer only upon the receipt of the seller’s confirmation that the full price has been received. However if you wish you can pay the purchase price through your lawyer’s escrow account.

The registration of the ownership takes up to 60 days in the Land Registry Office following the confirmation of the seller that the complete purchase price has been received. The Land Registry Office records the ownership of all apartments in Hungary and a copy of the title deed can be requested any time online or in person. Online request is available for Hungarian citizens. Foreign clients can ask their lawyer to get this document.

Yes, it is absolutely safe. The owernships are registered in the Land Registry Offices and a copy of the title deed can be requested at any time. It is a very transparent system.

No, you do not need to set up a company to purchase a property in Budapest. You can buy an apartment as a private individual. If your are an EU citizen then without any permit, if you are non-EU citizen, then you need apply for the permit and your ownership will be registered following its receipt. To set up a company and buy apartments in the name of the company is recommended in case of multiple purchases.

You can give a PoA either in person while you are in Budapest or at the Hungarian Embassy of your country. You can also sign a PoA in front of a public notary abroad but in this case the PoA has to be apostilled to make it acceptable for Hungarian authorities.

Yes, of course you can have a joint ownership in 50-50% or in any other proportion you wish.

Yes, you can. According to current laws, you can do it taxfree.

Properties will be heritated by your children and your spouse. If you have a spouse and 2 children then each of them will heritate 1/3 proportion of the property.

Purchase tax is 4% of the purchase price after the purchase of apartments, garages, storages and retails units as well.

CGT is 15% if you sell your apartment the same year or the year after you bought it. If you sell it later, then you get a tax allowance every year. If you sell it in 2nd year after the purchase, then you get 10% discount, in the 3rd year 30%, in the 4th year 60% discount. If you sell it 5 years after the purchase, then you can sell it taxfree.

There is not any general property tax in Hungary. However if you own an apartment where you do not live in permanently, then most districts have an annual tax which you need to pay every year to the local government. Its exact amount varies from district to district, but in general you need to think of a cost of 4-8 EUR/sqm/year.

Income tax is 15%.

I can put you in contact with English speaking accountants who have relevant experience of accounting properties of buy-to-let investors.

Income tax after your rental income has to be paid to the National tax and customs office. Annual tax has to be paid to the relevant local government. CGT tax is to be paid again to the National tax and customs office. Having a local accountant is highly recommended to have everything being paid on time.

Yes, absolutely. Many differences. Taxfree sale of an apartment after holding it 5 years is available only for private owners.

Highly recommended.

27%

Yes, you can deduct provided you have proper invoices, not only bills about the renovation. A proper invoice has to include your name and address and so the name and address of the service provider.

Yes, you can deduct all fees related to your apartment if you have proper invoices of these costs. The invoice has to include your name and address and the same of the company or person who issued it.

I have expertise in buying and selling apartment, but I can connect you with reliable property management and letting agencies.

It depends on the season you would like to find a tenant. In August and early September apartments are let within days, this is the peak of the rental market. January can be also busy. In any other time you need to calculate with 4-6 weeks provided your apartment is correctly priced.

In case your apartment is let for a minimum period of 1 year, the finder’s fee is equal to the amount of 1 month rent. If the contract is only for a half year or a semester, the fee is 10% of the total rent. For daily tourist rentals the usual fee is 20-25% of the total rent.

It depends on your rental market. Students and young professionals seek usually fully furnished apartments and many expats require the same. In case of larger properties it is advisable to leave a room empty or not to furnish the apartment completely to leave the possibility that the tenant will bring some of his own furnishing (usually beds or a sofa and not wardrobes, cupboards or dining table). Naturally you can try to rent your apartment unfurnished but the number of potential tenants here is much lower. Such tenants are usually local couples and families.

Yes. Most rental agreements include that the owner or his representative has the right to access the apartment once every month at a date and time agreed prior to the visit.

Security deposit is equal to the amount of 2 months rental fee. It has to be paid at the signing of the rental agreement and it is due to be paid back at the end of the rental term when the tenant is moving out. Cost of repair of any damages caused by the tenant in the property or in the furnishing can be deducted by the landlord from this deposit.

Yes, the tenant is responsible for all kind of damages made in the apartment.

The building charges, called also as common charges are paid always by the tenant. If the apartment is vacant, these charges have to be covered by the owner.

The apartment has to be insured by its owner and it is the owner who covers the annual insurance fee. The common parts of the building is insured by the Condominium and its fee is included in the monthly common charge which is paid by the tenant if the flat is rented and by the owner if the flat is vacant.

Yes, you can rent your apartment also for an office if there are no restrictions in the rules and regulations of the condominium. Usually they are none, but it is better to check and speak to the common representative of the condominium.

You can rent your apartment for tourists if you have the agreement of the co-residents and you arranged for the permission for tourist accomodation by the local government. To arrange for that you need to ask the common representative of the building to call together the meeting of residents and ask for their agreement. In many buildings tourist rentals are completely banned. The cost of the permission of the municipalities vary from district to district.

In general the property management cost is 10% of the monthly rental fee in case of long-term rentals. Agencies specialized in tourist rental charge 20-25% of the rental income.

Yes, of course. It is highly recommended when a tenant is not taking care properly of the apartment. In such cases the tenant can be called upon to pay the cleaning to keep the quality of the apartment.

A general renovation costs around 500 EUR/sqm including the change of heating, water pipes and electricity wiring, new bathrooms, kitchen, flooring and painting. This figure can go even higher if you need to replace wooden windows or doors with new ones or move walls. You can easily achieve 800 EUR/sqm if you aim to have an exclusive property.

Property management companies are usually available working hours, 9 am to 5 pm on working days.

If the fridge is owned by the landlord and it breaks down by usual wear and tear, then it is the responsibility of th owner to fix it immediately or change it to a new one.

Property management companies intend to inspect their aparments every month.

You can ask the rental income transferred to your Hungarian or foreign bank account or you can collect your rental income in cash during your stay in Hungary.

If you wish to change your management company, the current property manager has to hand over to the new manager not only the keys of the apartment, but also the zero papers of utility providers and the same from the building manager proving that all fees and costs have been paid up to date. The existing rental agreement, BER certificate, previous bills, utility contracts, all documents related to the flat have to be passed on.

Inspection of the apartment, collection of rents and post, repair and maintenance of appliances and furniture, renovation of the apartment when needed, availability for tenant’s inquiries, payments to landlords, continuous contact with the common representative of the condominium and the accountant of the client.