Property Buys by Foreigners at Pre-Pandemic Levels

Last year, 3,647 applications for the purchase of real estate in Hungary were submitted by foreign nationals from outside the European Union, which is 23% more than a year earlier; the last time similar activity was seen was before 2019, the real estate broker Duna House told MTI on Tuesday.

According to Duna House's analysis, 3,485 of the submitted applications received a positive decision (95.5%), covering 2.8% of the estimated annual real estate transactions, up from 2.7% in 2023.

Last year, Chinese property buyers were the most active in the Hungarian property market, accounting for around a third of purchases by people from outside EU member states with 1,106 transactions, an increase of 71% compared to 2023. Vietnamese buyers accounted for 16% of sales.

According to the statistics, 84% of real estate transactions subject to permits involved residential property, and 76% of homes purchased were metropolitan homes in 2024. Within Budapest, the District VII had the highest number of transactions, accounting for 15% of sales, followed by District VI, District VIII and District XIII, with 12% each.

Outside the capital, Pest County was the most popular destination for foreign buyers (5%), but Győr-Moson-Sopron County was also a popular destination (3%). In the list of rural cities, Sopron, Mosonmagyaróvár, Pécs and Szeged were also popular, along with Debrecen.

The report noted that in Hungary, Swiss citizens can buy property without a permit in addition to European Union and European Economic Area member states.