Property Market News from Budapest, HungaryStay up-to-date on the property prices and real estate market trends in Budapest.

Big US Company Expands in Budapest January 30th, 2014

East Gate Business Park won a HUF 272 million EU subsidy, thus the GE Oil and Gas department situated in the industrial park gets a new, 11-thousand-square-meter hall. The project can be ready by September 2014. East Gate Business Park won a HUF 272 million EU subsidy within the confines of the Central Hungarian Operative Program of the New Széchenyi Plan. Thus the GE Oil and Gas department situated in the industrial park gets a new, 11 thousand square meter large manufacturing technology area....

A Swedish woman had to face the fact she's not the real owner of her apartment in Váci utca 13 years after she bought the property for HUF 53 million. If you bought your apartment at the end of the 1990s or at the beginning of the 2000s, and don't like unpleasant surprises, it's recommended to check at the land registry if you are the official owner of your property. A Swedish woman bought an apartment in Váci utca in 2000 for HUF 53 million, and she also paid the HUF 1.5-million tax. 13 years...

I'm not a Hungarian resident... Why should I pay tax in Hungary?According to the Hungarian tax laws you are liable to pay tax on the earnings made within within the borders of Hungary regardless of your residence. So rental income is no exception if the property is located in Hungary even if the owner lives aboard. Okay, but how much is it?Personal income tax is 16% (no different tax bands), corporation tax is 10% under annual tax base of 500 million HUF (ca. 1.6 million EUR). In certain downtown...

What's the simplified way?There are two general methods of taxation in Hungary for property related revenue. One is the itemized, the other is the simplified accounting method. With the simplified tax method you are allowed to deduct only 10% of all your expenses. This does not reduce the tax base as much as you potentially could, leaving you with more tax to pay in the end. Doing the simplified method is less hassle for the accountant, but the property owner will end up with a huge tax bill to...

How do I get my tax ID?The tax ID is generated by the revenue office for businesses or for private individual doing businesses such as renting out properties. Since August of 2010 private individuals do not have to obtain tax ID number in order to issue and collect rentals legally.If not compulsory, why should I have a Hungarian tax ID?Without a tax ID number you will not be able to rent out a parking space or rent to a company. Note that you may have to produce 'proper' invoices in...

Reconstructions on Ferenciek tere started last fall, but other constructions are also in process in the 5th district. The Olimpia Park, Váci utca, Duna-korzó and Falk Miksa utca will also be renewed, the latter gets a new pavement, and a statue of Peter Falk a.k.a. Columbo will be erected there in next March. The renewal of the 5th district streets and squares was started in October 2013. The pavements of the Duna-korzó will be changed and new street lamps erected; this will cost HUF 660 million....

Property Market News from Budapest, HungaryStay up-to-date on the property prices and real estate market trends in Budapest.

Big US Company Expands in Budapest January 30th, 2014

How to Make Sure You're the Owner of Your Apartment January 30th, 2014

Paying tax in Hungary? What is tax? January 16th, 2014

Why 'cheap' is more expensive? Two ways of doing tax in Hungary – Simplified or Itemized January 16th, 2014

Do I have to obtain tax ID in Hungary if I want to rent out my property? January 16th, 2014

Falk Miksa utca Is to Be Renewed January 2nd, 2014