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The lawyer's fee in Hungary
is around 1% of the cost of the property.
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There is a tax payable when
purchasing property. This is called "Duty" in Hungary. On
property costing up to 4,000,000 HUF the duty is 2%. Over
4,000,000 the duty rises to 6%.
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Newly built property up to
15,000,000 HUF is exempt.
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Building plots are also
exempt provided that you build on them within four years.
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The land registry functions
very well and there appear to be no problems with title and such
matters. The cost of entering a purchase in the land registry is a
mere fifteen Euros.
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E.U. citizens can buy their
first property with no difficulty. However, permission has to be
sought in order to buy multiple properties. This is normally granted
within a few weeks.
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Opening a bank account is
quite simple.
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Our agents speak excellent
English as does the lawyer that they use. We have met him and have
had a long discussion about property purchase in Hungary and are
satisfied that the procedure is straightforward.
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Mortgages are available up
to 50%.
