Fewer Foreigners Buying Homes in Hungary
- 15 Nov 2024 6:08 AM
- Hungary Around the Clock
Roughly 6,300 foreign citizens bought residential units in Hungary in 2023, which is 1,700 fewer than a year earlier, but in some districts of Budapest, one in five apartments sold went to a foreign buyer.
Last year, foreigners accounted for 5.9% of home sales by total, and 7.6% by value.
With the exception of the Vietnamese and the Russians, there were fewer home buyers from all countries than in the previous year.
Most of them were Germans, who accounted for nearly 25% of all foreign purchases, buying 1,473 homes.
They were followed at a large distance by Slovak, Romanian and British buyers, each with purchases of 600-700 apartments.
The largest non-European group was the Chinese, who bought a total of 588 homes, mostly in Budapest.
Vietnamese buyers came second with 267 homes, even more concentrated in the capital.
Some 22-23% of German and Dutch buyers – and 33% of buyers from Switzerland – were over 65 years old.
Half of the units purchased by Germans were in Somogy or Zala county.
The most active buyers in Budapest last year were the Chinese, who bought more than 500 homes.
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