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    Securing Loans and State Support for Real Estate Investment in Hungary

    Do you dream of owning property in Hungary as a foreign citizen? With the right information and support, that dream can become a reality. Navigating the loan and support systems may seem daunting, but armed with the right knowledge, you can confidently take the steps towards owning your dream home in Hungary. This comprehensive guide provides valuable insights into the process, ensuring you're well-prepared to embark on your real estate journey.

    Eligibility Criteria:

    The first step towards securing a loan in Hungary is establishing lawful residence in the country. EU citizens can certify their permanent stay with a registration card, while third-country nationals need a permanent residence permit after three years of continuous stay. These applications are processed through the immigration office, setting the stage for your loan application.

    Hungarian Address Card, Verified Income, and Property Value:

    Once residency is confirmed, obtaining a Hungarian address card is essential. This document verifies your permanent residence address, a prerequisite for all loan applications. Additionally, you'll need to demonstrate verifiable income and, for mortgages, provide details of a property with market value.

    Real Estate Acquisition:

    Third-country nationals must adhere to additional regulations when acquiring real estate in Hungary, including obtaining official permits. While this may seem like a hurdle, these permits are typically a formality, albeit with some processing time required.

    Loan Options:

    Hungarian banks offer a range of lending terms, with some catering exclusively to Hungarian-speaking clients and others extending services to foreign borrowers. Researching and comparing loan products is key to finding the right fit for your needs.

    State Subsidies and CSOK:

    Hungary provides various state subsidies for property plans, particularly targeting families and couples planning to expand. The Hungarian family housing allowance, CSOK, offers non-refundable allowances and favorable interest rates for property purchases. However, eligibility criteria changes in 2024 signal a shift in priorities, favoring rural investment options. While the maximum amount of CSOK will increase, eligibility for certain benefits will be restricted, particularly in urban areas with populations exceeding 5,000. Additionally, the age limit for women applying for the prenatal loan will be reduced to 30 from 40, reflecting the government's intention to encourage earlier family planning and rural investment.

    Expert Guidance:

    Navigating the complexities of Hungarian real estate investment is made easier with expert guidance. JCE Consultancy, in partnership with Selling Budapest, offer comprehensive support throughout the loan, residence permit application and property acquisition process. From loan applications to property selection, their expertise ensures a seamless experience for buyers.

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