Foreigners increasingly present on property market

This is an increase of 23% compared to the previous year. The last time there was such activity was before the coronavirus pandemic, real estate agent Duna House reported on Tuesday.

According to the analysis, 95.5% of the applications submitted were assessed positively. This corresponds to just under 3% of the estimated annual property transactions. Last year, Chinese property buyers were the most active in the domestic property market and accounted for around a third of third-country buyers with just over 1,100 transactions; an increase of 71% on 2023. A further 16% of transactions were made by Vietnamese buyers.

84% of property transactions subject to approval were for residential properties, 76% of which were in Budapest. The 7th and 13th districts were particularly popular here. Non-EU foreigners also purchased property primarily in the counties of Post and Győr-Moson-Sopron. Other popular cities were Debrecen, Pécs and Szeged. In addition to EU and EEA citizens, Swiss citizens can also buy property in Hungary w