Q. What is the bascis of pricing?
Property prices are fixed in Euro. Per property you will find an indication on the actual rate.
Q: Does the buying process take a long time?
The entire buying process from selecting a suitable property to finishing so you will be the owner will take 1 to 2 months. Also finishing documentation at the land-registry and tax office usually takes about 3 or 5 months. As a rule it takes just one consultation with us to set the ball rolling, you do not have to travel back and forth ad-infinitum.
On all of this there is one exception and that is for property outside the village borders. As a foreigner you can buy bigger plots (up to10.000 m2), but the time for the buying procedure is much longer. First it was 60 days for the first buying right of Hungarians, but now there is another 60 days in which a government committee (mostly land registry) is going to look whether all procedures are okay and a foreigner can buy, so 60 + 60 + some days for posting etc. will turn out to be about 6, maybe 9 month before you know whether you can buy the property. This is all outside village borders. Inside no problem.
Q. What costs will be charged to me ?.
For real estate with a sales price up to and including Euro 55,000 we charge a flat rate of Euro 2.500 plus VAT.
For real estate with a sales price of more than Euro 55,000 we calculate 4.5% plus VAT.
The commission is calculated on the basis of the purchase price plus any additional services provided by the customer to the seller (such as a fee for furniture, etc.).
The costs of the lawyer are approximately Euro 850,= plus VAT. For houses of more than Euro 100,000, the costs are slightly higher.
The purchase price can be transferred to the account of the lawyer which then pays to the seller. Payments will go through the lawyers trust account. Be aware.!! The Hungarian bank charges 1% of the transfer sum as compensation for this.
Q: What are the other costs ?
Be aware of the stamp duty / property sales tax. You will get a bill for this roughly 6 months after you purchase your property, from a company called "Sygma”, who collect the stamp duties from foreigners purchasing in Hungary. You will receive this bill direct to your home address, and you will need to make a bank transfer to the account on the invoice. This property tax is a once off payment when you purchase a house.
For non EU citizens arranging permissions from the local mayor and the county authorities is not included. Costs will be around 70.000 HUF.
Q: Will a Brexit have effect on buying property in Hungary?
At the moment UK-citizens are able to buy in Hungary and live and work there. Having a UK-citizenship you and are free to come and go as you wish.
It is not yet possible to say what will change if the UK would leave the EU, but looking at the way you can buy in Hungary there are two possibilities. One is the simple way. Is for EU citizens and will be handled by selecting your property, sign an contract and move in. The other one is for "friendly" countries and then you first need to ask for a permission. in the past this was the "normal" procedure. Most likely the UK will be such a "friendly country”, so you need to ask this permission. Will only take a little longer in the process, but can hardly be a problem, unless you are looked for by the police, tax authorities etc. :-). By the way, this was the procedure before Hungary joint the EU.