Buying a house
Buying a house
If you are planning to stay in Debrecen for a longer period of time, you should consider buying your own property in the city or its surrounding area.
Rules to follow
In Hungary, all real estate sales contracts are concluded in writing and are countersigned by a lawyer or a notary. You may want to consult a legal professional experienced in handling legal transactions related to foreigners. In Hungary, the following substantive and procedural rules apply to the acquisition of real estate by foreigners (the list is not exhaustive):
- Act LXXVIII of 1993 on rules concerning the rental of flats and premises and their alienation
- Government decree 251/2014 (X.2.) on the acquisition of real estate by foreigners
- Law CL of 2016 on General Administrative Procedure
- The rules on fees for proceedings are laid down in Act XCIII of 1990 on Fees
- Act CXXII of 2013 on the turnover of agricultural and forestry lands
- Act V of the Civil Code of 2013
- Law CXLI of 1997 on Real Estate Registration
A responsible decision on the final purchase can be made in knowledge of the following costs:
- The real estate agent’s fee, if any, is paid by the property owner. Some service providers charge the customer with this fee, in this case the fee is equivalent to the turnover value of 3% + VAT.
- Lawyer’s fee – In Hungary, it is always the customer who pays this fee, that is the equivalent to a rate between 0.5% – 2% of the purchase price.
- Procedure fee to be paid to the Land Office (6,600 HUF)
- Property acquisition tax that is 4% of the purchase price
- The fee to be paid for the authentic translation of the required documents; the fee to be paid to the interpreter
After concluding the contract, it is advisable to change the names on which the meters are registered at the utility service providers as soon as possible and to conclude the service contract based on the current position of utility meters.
You can find the vast majority of rental market listings on Hungary’s largest real estate portal, or get help from real estate agents and relocation companies who will guide you through the whole process, from moving in to registering your new address.