What documents are required to obtain a residence permit in Hungary when buying real estate?

General information about obtaining a residence permit in Hungary

Hungary provides foreigners with the opportunity to obtain a residence permit (residence permit), although there is no separate immigration program for those who purchase real estate. The legislation of this country allows people who have property and sufficient financial resources to apply for a residence permit. To apply to the migration office, you will need to prepare a number of important documents, in addition to a passport.

Documents required to apply for a residence permit

The following documents are required to apply for a residence permit:

• Confirmation of ownership rightson real estate in Hungary.
• Hungarian bank statementshowing that there is at least 10,000 euros in the account for each member of the family.
• Medical insurance.
• Justification of reasonsfor an extended stay in the country.

It is important to note that there is no obligation for the applicant to reside permanently in Hungary.

Extension and transition to CoML

The residence permit can be renewed on the same grounds on which it was initially obtained. However, if a foreigner wishes to obtain permanent residence status (permanent residence) afterwards, he/she must take into account that for three years he/she must spend at least 270 days per year in Hungary or stay in the Schengen area for no longer than a predetermined period of time.

Alternative ways to immigrate

There are also alternative ways to immigrate. Previously, it was possible to obtain a residence permit by investing in government bonds worth 300,000 euros or more, but this program ceased to exist in 2017. At the moment, it is possible to apply for a residence permit in Hungary for the following reasons:

• Employment.
• Study.
• Doing Business.

After submitting all the necessary documents, in case of a positive decision, the resident plastic card will arrive by mail in about one and a half to two months.

Timeframe for issuing a residence permit

The application for a residence permit is usually for a period of two years, although most often the first residence permit is granted for only one year. Unlike many other countries, Hungarian laws do not require a minimum value for the purchase of real estate. At first glance, it may seem possible to buy even an emergency house in a small community and expect to receive a residence permit, but in practice the process can be quite complicated.

Real estate options in Hungary

Today, the Hungarian real estate market offers a variety of options for purchase. For example, for 605,125 euros you can buy an apartment in Budapest with an area of 133 m² with four rooms in a modern residential complex, which was built using the latest technology and design solutions. This project, called Marina Part, has become a hallmark of the 13th district of the capital and was realized by one of the largest construction concerns in the country.

Another option is an apartment in the historical center of Budapest, in the fifth district, close to the Danube embankment and the parliament building. For 438,500 euros, a 100 m² property with three rooms is available here. In this famous classic style house there are several apartments for sale, which can be combined. Each of them has its own cadastral number and has undergone an individual renovation with the renewal of all communications, which emphasizes their uniqueness and attractiveness to potential buyers.

In Budapest, the capital of Hungary, a comfortable house with a price of 515,000 € has appeared on the real estate market. The house, which covers an area of 220 square meters, is located in the picturesque Jüriem district, known for its green hills and tranquility. Built in 1988, it is situated in a quiet location away from the hustle and bustle of the highways. The house has been updated many times over the years, and the last significant renovation took place in 2008, when the electrical wiring and solid brick walls were upgraded, significantly increasing its living standard and coziness.

Apartment in the center of Budapest

In addition, in Budapest, within the sixth district, you can find an apartment put up for 580,000 €. This spacious 114 square meter apartment offers its occupants a first-class renovation. Located on the sixth floor of the modern residential complex Avenue Gardens, it includes:

• A bright living room
• Two cozy bedrooms
• A bathroom and an additional toilet

A notable characteristic is the terrace of 16 square meters, which will allow you to enjoy the pleasant air. The apartment has windows facing the inner courtyard, which creates an atmosphere of privacy. There is an elevator in the building and the common expenses are about 300 euros per month.

Apartment in Budaørsch district

Also available for sale is an apartment in the picturesque neighborhood of Budaørsz at a price of 374,000 €. This apartment with an area of 104 square meters is located on the first floor of a building that is located on a quiet street with little traffic. The interior space includes:

• Three bedrooms
• A spacious living room
• Combined with the kitchen and dining area
• Exit to the terrace with access to the garden

There are also two bathrooms and two toilets, and the atmosphere of home comfort is emphasized by a well-kept garden with automatic irrigation system.

New residential complex Marina

If you are looking for something new, you should consider the new Marina residential complex located in the 13th district of Budapest. For 464,500 € you can own a furnished apartment with a total area of 90 square meters. This modern complex is directly adjacent to the Danube River, offering magnificent views of the water and the surrounding islands. The transparent glass surfaces of the elegant terraces create an extraordinary experience, while the clean air and the quietness of this corner will allow you to enjoy a peaceful environment.

New apartments on the Bulajský bank of the Danube

In the 3rd district of Budapest, on the picturesque Bulai bank of the Danube, a variety of new apartments are offered at prices starting from 152,500 € for 43 square meters. This modern neighborhood offers unique conditions for buyers:

• It is enough to deposit only 20% of the value of the apartment at the signing of the contract,
• The remaining funds can be repaid once the construction work is completed.

The apartments are built using the latest energy-saving technologies, including a state-of-the-art heating and cooling system with heat pumps that do not require gas, making these properties particularly attractive to buyers.

Luxury apartment in business class

In addition, the new business class building in the 13th district offers an apartment of 82 square meters, priced at 357,900 €. This luxury residential complex with concierge stands out with its panoramic elevators and original architecture, reminiscent of a ship moored at the Danube. The apartment's floor-to-ceiling windows offer magnificent views of the surrounding nature and create an impression of open space.

Investment opportunities in the Budapest real estate market

Budapest has an active real estate market that provides many interesting options for potential buyers. One of such offers is a hotel occupying 5400 square meters on the Pest side of the city, the price of which is10,500,000 euros. This modern hostel meets the standards of a three-star hotel and is ideal for accommodating both labor teams and individual tourists. Both single and double rooms are provided inside the building, allowing for flexibility in organizing client accommodation.

Luxury apartment on the seafront

Another attractive offer is a luxury apartment, the price of which is560,000 euros. This residential facility with an area100 square metersis located in one of the most prestigious neighborhoods of Budapest, on the Belgrade waterfront. The apartment is decorated in a style combining elegance and light colors. It is located on the fourth floor and neighbors the central market and the famous Vaci Street, making it an excellent choice for a comfortable stay.

Penthouse with terrace

In addition, it is worth paying attention to the penthouse of the area286 square meters, which is offered for950,000 euros. It is located in the seventh district, in close proximity to the historic part of the city. The apartment is located on the sixth floor of a modern building built in thein 2012and includes200 square meters of terrace.

Real estate in Budapest

In Budapest, various real estate properties are open for sale, including both apartments and plots of land. For example, you can own a one-bedroom apartment of 49 m² for €213,000 in the prestigious eighth district of the capital. This complex was built in 2010 and is just a few steps away from Corvin Plaza and the Danube promenade. Excellent transport accessibility and the availability of all necessary infrastructure make this offer very tempting.

Spacious apartments in the center

Another interesting offer from Immotrading GmbH is a spacious 83 m² apartment for €195,895. This apartment with a well-thought-out layout and modern renovation is located in the heart of the city, close to Blaha Luisa Square.

If access to business centers is important to you or you are planning to put an office in this apartment, this offer will be perfect for you.

Furnished apartments with amenities

Those who want more living space are offered a furnished apartment for €297,000 in the sixth district of Budapest. This apartment is equipped with stylish furniture, selected with attention to detail, creating an atmosphere of coziness and comfort.

The total area of the apartment is 104 m² and includes:

• Three bedrooms, two of which have access to additional galleries.
• Separate bathroom in one of the bedrooms.
• A spacious living room suitable for family relaxation.

Land plots in Hungary

In addition to residential properties, plots of land are also for sale in Hungary. For example, a plot of 291,645 m², located in the picturesque surroundings of the small village of Zalakomár, is offered for €400,000. This plot was previously used for peat extraction, and its new designation is well-suited for the implementation of various projects, thanks to its outstanding sunny location in the south of the country.

Agricultural land

Interesting offers also concern agricultural land. In the Kalocsa area, two plots of land with a total area of 60 hectares are available for €327,926. These pastures and arable lands with a flat surface are perfect for:

• Construction of solar power plants.
• Development of sustainable agricultural projects.

Special land offers

Finally, the most notable offer from Immotrading GmbH is a plot of land measuring 330,000 m², located in the small village of Ilyiny, near the Hungarian-Slovak border. This plot is situated in a picturesque village with a population of just 187 people and can serve as an excellent base for:

• Agricultural activities.
• Development of personal farming.

Conclusion

If you have a desire to purchase real estate in Hungary, each of the properties presented has unique characteristics and can meet your interests depending on your preferences and requirements.

Changes in the process of obtaining a residence permit in Hungary

In recent years, the process of obtaining a residence permit in Hungary has undergone significant changes and has become more complicated. Ten years ago, it was enough to submit documents for the property being purchased. Now, however, immigration authorities are concerned with various details and are much stricter in their approach to applications.

Criteria for evaluating housing

One of the main criteria for evaluating housing is its area. According to high standards, there should be a certain amount of space per resident.15 to 18 square metersFor example, if a family of five plans to obtain residency by purchasing an apartment that is only 40 square meters, the likelihood of their application being approved will be extremely low.

Moreover, the condition of the apartment and its location also affect the decision. If the property requires major repairs or is located in a remote area with underdeveloped infrastructure, this will also negatively impact the approval process.

Real estate prices and requirements

It is important to note that the low cost of real estate can become a barrier to its acquisition, even in the absence of formal price restrictions. Ilona Chik, a manager at Perfect Invest Hungary, gives an example of a family of five who had to give up a small apartment because they were advised to choose a more suitable option for living.

Reasons for obtaining a residence permit

Immigration authorities also carefully analyze the reasons why a foreign citizen wants to stay in Hungary. Not every motivation will be accepted, and the reasons provided may require additional documentation. The reasons for obtaining a residence permit can be quite diverse, for example:

• desire to learn the Hungarian language;
• the need to provide school education for a child;

However, an inappropriate or poorly articulated justification can lead to a refusal to grant permission.

Necessary documents for justifying stay

For example, if you want to justify your permanent stay in the country due to the need for medical assistance, you will need to provide medical certificates from Hungarian specialists. If the reason is stated as business, you must demonstrate that your Hungarian company has been operating for at leastthree years...pays taxes and has at least...three local employees.

Conclusion

Thus, Hungary's migration policy has become significantly stricter, and simply purchasing property is not enough to successfully obtain a residence permit. The key aspects on the path to obtaining permission remain:

• detailed assessment of living conditions;
• justification of your intention to stay in the country.

These factors become crucial in the process of obtaining permanent resident status.

Conclusion

In conclusion, the process of obtaining a residence permit in Hungary is truly interesting and quite complex, offering numerous opportunities for foreigners wishing to settle in this wonderful country. I hope I have covered all the key points so that readers have a comprehensive understanding of the process.

As I mentioned earlier, although there is no separate immigration program for real estate buyers, the law does allow those who own property in Hungary and have sufficient means for living to apply for a residence permit. However, it is important to understand that simply owning property is not the only requirement. It is necessary to carefully prepare all documents, provide proof of financial stability, and have health insurance, which can require significant effort and time.

Key points for obtaining a residence permit in Hungary:

• Preparation of the necessary documents.
• Proof of financial capability.
• Availability of health insurance.
• The process of extending a residence permit.

The process of extending a residence permit, the lack of strict requirements regarding permanent residency, and the possibility of obtaining a residence permit for other reasons, such as work, study, or business, all make Hungary attractive to many. However, it is important to keep in mind the details: for instance, to later transition to obtaining permanent residency, a sufficient amount of time spent in the country will be required.

Opportunities in the real estate market:

There are currently many interesting real estate options available on the market, from modern apartments in the heart of Budapest to cozy houses in the suburbs, which opens up a wide range of opportunities for potential buyers.

In any case, before making a decision about purchasing real estate and submitting documents for residency, I strongly recommend thoroughly analyzing all the information, consulting with experts and legal specialists to avoid potential difficulties. I hope this article can help those interested in obtaining residency in Hungary and serve as a useful guide in this exciting adventure.