REAL ESTATE ACQUISITION BY EEA CITIZENS IN HUNGARY
The citizens of EEA countries do not need permission to acquire real estate in Hungary that is not classified as croplands (houses with land, apartments). EEA citizens can acquire fertile land under the same conditions as Hungarian citizens under the provisions of the Land Act (Act No. CXXII of 2013) as of 01.05.2014. The Land Act contains the following restrictions:
- in particular, legal entities are not allowed to acquire property;
- individuals who are not registered as farmers may acquire land only up to an area of one hectare;
- registered farmers may acquire land only up to an area of 300 hectares.
There are extensive rights of first refusal in favor of the state and in favor of certain neighbors and regional farmers. You will need a lawyer or notary registered in Hungary to purchase real estate.
Therefore, it is worth to contact a real estate agency operating in Hungary, such as ImmoTrading GmbH. The Hungarian office of the company will be glad to inform you with help of competent lawyers about details of legal regulations for a real estate purchase in Hungary.