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Resale's
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BUDAPEST
Rottenbiller street.
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|
Sunny 2nd floor flat of 59 sq.m., 2
rooms, kitchen, bathroom, toilet. |
54.100 EUR
13.800.000
HUF
Ref. 1936 |
|
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BUDAPEST
Alsóerdosor street.
|
|
2nd floor flat of 48 sq.m., 2 rooms,
kitchen, bathroom, toilet. |
57.300 EUR
14.600.000
HUF
Ref. 1927 |
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BUDAPEST
Erzsébet street.
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|
Exterior, 1st floor flat of 152 sq.m.,
4,5 rooms, kitchen, bathroom, toilet,
elevator. |
127.500 EUR
32.500.000
HUF
Ref. 1928 |
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BUDAPEST
Tüköry street.
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2nd floor flat of 98 sq.m., 2,5 rooms,
kitchen, bathroom, shower, toilet,
elevator. |
235.300 EUR
60.000.000
HUF
Ref. 1946 |
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BUDAPEST
Szinva street.
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|
2nd floor flat of 124 sq.m., 4 rooms,
kitchen, bathroom, toilet. |
92.900 EUR
23.700.000
HUF
Ref. 1949 |
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BUDAPEST
Bod
Péter street.
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|
Luxury flat in Buda with beautiful
panoramic views, 2nd floor of 140 sq.m.,
living-room with american kitchen, 4
bedrooms, huge gallery, bathroom,
toilet. Swiming-pool and sauna. |
239.200 EUR
61.000.000
HUF
Ref. 1979 |
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BUDAPEST
József Attila street.
|
|
4th floor flat of 90 sq.m., 2 rooms,
kitchen, bathroom, elevator. |
139.200 EUR
35.500.000
HUF
Ref. 1952 |
|
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BUDAPEST
Thököly street.
|
|
1st floor flat of 77 sq.m., equipped
with air conditioner, 2 rooms, kitchen,
pantry, bathroom, toilet. |
84.300 EUR
21.500.000
HUF
Ref. 1954 |
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BUDAPEST
Felsoerdosor street.
|
|
2nd floor flat of 52 sq.m., 2 rooms,
kitchen, pantry, bathroom. |
58.000 EUR
14.800.000
HUF
Ref. 1955 |
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BUADPEST
Akácfa street.
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3rd floor flat of 78 sq.m., 2,5 rooms,
kitchen, pantry, bathroom. |
83.500 EUR
21.300.000
HUF
Ref. 1711 |
|
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BUDAPEST
Damjanich street.
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5th floor flat of 144 sq.m., 4,5
rooms+hall, kitchen, bathroom, elevator. |
168.200 EUR
42.900.000
HUF
Ref. 1963 |
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BUDAPEST
Király street.
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1st floor flat of 63 sq.m., 2 rooms,
kitchen, dining-room, bathroom, toilet,
elevator. |
63.900 EUR
16.300.000
HUF
Ref. 1968 |
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BUDAPEST
Csengery street .
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3rd floor flat of 59 sq.m., 2 rooms,
kitchen, bathroom, toilet. |
52.200 EUR
13.300.000
HUF
Ref. 2000 |
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BUDAPEST
Vörösmarthy street.
|
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Close to railway station, ground floor
studio of 36 sq.m., kitchen, shower,
toilet. |
34.900 EUR
8.900.000
HUF
Ref. 1889 |
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BUDAPEST
Erzsébet street.
|
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2nd floor flat of 60 sq.m., 2 rooms,
kitchen, bathroom, toilet, elevator. |
65.900 EUR
16.800.000
HUF
Ref. 1866 |
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BUDAPEST
Kazinczy street.
|
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Nice studio in the heart of the city,
1st floor, 32 sq.m., kitchen, pantry,
bathroom. |
40.000 EUR
10.200.000
HUF
Ref. 1861 |
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BUDAPEST
Rózsa
street. |
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Centrally located, 2nd floor flat of 40
sq.m., kitchen, bathroom. |
46.700 EUR
11.900.000
HUF
Ref. 1980 |
|
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BUDAPEST
Kiss
József street.
|
|
Renovated 3rd floor flat of 92 sq.m., 3
rooms, kitchen, bathroom. |
70.600 EUR
18.000.000
HUF
Ref. 1666 |
|
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BUDAPEST
Nagymezo street.
|
|
1st floor flat of 64 sq.m., kitchen,
pantry, shower/toilet. |
74.1000 EUR
18.900.000
HUF
Ref. 1999 |
|
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BUDAPEST
Huszár street.
|
|
In a new renovated building, 1st floor
flat of 84 sq.m., 2,5 rooms, kitchen,
pantry, bathroom. |
82.400 EUR
21.000.000
HUF
Ref. 1873 |
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BUDAPEST
Népszínház street.
|
|
Recently renovated, exterior, 4th floor
flat of 84 sq.m., 2 rooms, american
kitchen, bathroom. |
91.000 EUR
23.200.000
HUF
Ref. 1997 |
|
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BUDAPEST
Rákóczi street.
|
|
Great investment with refurbishment, 1st
floor flat of 46 sq.m., 2 rooms,
kitchen, bathroom, toilet. |
47.900 EUR
12.200.000
HUF
Ref. 1899 |
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BUDAPEST
Klauzál street.
|
|
1st floor flat of 126 sq.m., 3,5 rooms,
kitchen, bathroom, toilet, elevator. |
117.700 EUR
30.000.000
HUF
Ref. 1945 |
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BUDAPEST
Király street.
|
|
1st floor flat of 47 sq.m., 2 rooms,
kitchen, bathroom, toilet. |
51.000 EUR
13.000.000
HUF
Ref. 1941 |
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Buying information for properties in Budapest
 Feel secure in the knowledge that
you will be dealing with a division of one of Spain's largest estate agencies with all the professional support that you would expect from a multi
national company.
They
will take clients through each step
of the purchase process in Hungary; from sourcing of property to meet your
specific investment goals or financial background, to raising finance, legal
assistance, to contract signing and setting up a company, through to letting and
selling your property.
Buying as a company or as a private individual
As A Company
An equal partnership, consisting of one senior partner
and one limited partner has proven to be the best legal instrument for buying a
property as a company. The senior partner is responsible for signing the
ownership documents for the new property. The company establishment procedure
can be initiated before travelling to Budapest. The total costs are about
€600, including lawyer's fees, notary, stamp duties and publication costs, and
setting up the company bank account.
As An Individual
The other option is buying property as a private
individual. The purchaser's passport and some personal details are necessary for
the drafting of the purchase contracts. If you purchase the property as a
private individual, an approval by the Administrative Office of Budapest is
necessary. Based on our experience, this permission is granted without a
problem.
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Company
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Private
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Setting up costs
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Approx. 800 € including lawyer fees, notary, stamp duty
and bank charges
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Approx. 350-400 € lawyer fees for the process of
getting the permission
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Purchase tax / stamp duty
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2% if sold within 2 years
6% if held for longer than 2 years
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6%
|
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Permission
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No permission required
|
The approval of the Administrative Office of Budapest is
required. The obtaining of this approval can take up to 2 months
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Restriction on number of properties one can purchase
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None
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Permission will not be granted for more then two
apartment per individual
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Duration of the process
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Immediately (1-2 days)
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Minimum of 3 months
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On-going costs
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350 € - 400 € / year accounting
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None
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Tax
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16% corporate tax on profits. No dividend tax
The company can reclaim back all expenses related to the apartment
including trips to Hungary of the company owners and interest for
owner’s loan. These expenses will be deduced from the company profits.
The company can also be sold, then there is no capital gains tax for the
seller, and there is no stamp duty for the purchaser either
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25% capital gains tax.
You can claim all the expanses related to the purchase of the apartment
and upgrading it (furniture, renovation, stamp duty, fees)
There is a double taxation agreement between
Hungary and EU countries.
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Re selling
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If you sell the company the buyer does not need to pay
stamp duty – it makes the purchase cheaper for him
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No restriction when selling – the buyers will pay stamp
duty and lawyer fees.
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Stamp Duty
New residential developments
- 0% if Property Value is less than Huf 15m.
(€60k approx.).
- 6% of the Property Value in excess of Huf 15m.
(€60k approx.) but less than Huf 30m (€120k approx.).
- 6% of the Total Property Value if Property
Value exceeds Huf 30m. (€120k approx.).
Second hand residential property
- 2% on Property Value less than Huf 4m. (€16k
approx.)
- 6% on Property Value in excess of Huf 4m.
(€16k approx.)
Commercial property
- 10% on Purchase Price inclusive of VAT.
Value added Tax
New residential developments
- 20% VAT on Property Value
- 20% VAT on Rental Income Only if the function
on the Title Sheet of the property is "office" or
"commercial". If the function is "residential" there is
no VAT.
Second hand residential property
- Exempt from VAT
- Rental income is exempt from VAT. There is VAT
only if the function on the Title Sheet of the property is
"office" or "commercial". If the function is
"residential" there is no VAT.
Commercial property
- 20% VAT on Property Value
- Rental income is exempt from VAT No, it is NOT exempt.
Under certain conditions, an option for VAT inclusive
rentals is available in order to claim refunds of input VAT that exceeds output
VAT. The condition to reclaim VAT is:
- function should be "commercial" (not
residential)
- the landlord should be a company.
Income and other taxes
- 16% corporate income tax on PROFITS
- 25% income tax on rental income.
Hungary has a double taxation agreement with Ireland
and the UK. Income Tax payable in Hungary is generally deductible against any
tax payable in the country of residence.
PROPERTY
MANAGEMENT AND LETTINGS
Most of our
clients choose to rent their properties, at least for a time, through our local
agent.
We can take you step-by-step through the letting process from furnishing through
to sourcing of tenants, and we do our best to ensure that your property is
managed effectively.
Letting your
property
What marks out
Budapest from many markets for property investment is the tried and tested
investment timeline. Properties in Budapest are continually being rented, sold
& re-sold. The real estate market exists and has done for many years and the
demand for property is always there. It is important for investors to have this
peace of mind and investment security, particularly if you are a first time
investor. Outlined below is the process for letting your property in Budapest.
Letting in Budapest
Most investors
will seek to let out their property in Budapest. There are various questions
investors may have when considering buying to let; Who will I rent my property
to? How will I find a tenant? Do I need to furnish the apartment, and if so what
will it cost me? How much should I expect to receive every month?
We provides full property management
services from sourcing of tenants, organising rental payment, regular property
inspections, furniture packages, insurance, reporting to tax authorities and
more. In order to find the tenant our Company charges a fee equal to the monthly
rental fee while the property management services cost 10% of the monthly rental
fee. Unlike many other markets, in Budapest the owner of the property does not
have to pay the community and utility fees. These fees are paid by the tenant,
which is stipulated in the rental management contract. Thus costs to the owner
are kept to a minimum.
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