Published on and written by Cyril Jarnias
Hungary: An Ideal Destination for Expat Seniors
Hungary, located in the heart of Central Europe, is attracting an increasing number of expat seniors seeking peaceful retirement abroad. This country offers a unique blend of cultural richness, breathtaking landscapes, and quality of life at costs often lower than other European countries.
From Budapest with its magnificent thermal baths and majestic architecture to the pastoral landscapes of Lake Balaton, there are numerous options for investing in a retirement location.
Why Invest in Hungary for Retirement?
While exploring the best places to invest in Hungary, this article will guide you through strategic and advantageous choices for a retirement that combines serenity and comfort.
Good to Know:
Hungary offers attractive tax benefits for foreign retirees, including a flat 15% income tax.
Living in Hungary: A Paradise for European Retirees
Advantages of Living in Hungary for European Retirees:
- Affordable Cost of Living
Hungary’s cost of living is significantly lower than many Western European countries. For example, it’s estimated to be 59% cheaper than France, allowing retirees to enjoy higher purchasing power and maintain a comfortable lifestyle even with a modest pension. - Quality and Accessibility of Healthcare
Hungary’s healthcare system is modern, well-equipped, and efficient. Medical care is free for residents with acceptance of the European Health Insurance Card. Retirees can also maintain their French supplementary health insurance. High-end hospitals, French-speaking specialists, and quick access to care provide particular reassurance for senior expats. - Senior-Friendly Infrastructure
Major cities feature well-developed infrastructure: efficient public transportation, accessible shopping, recreational centers, and quality medical facilities. International brands and 24/7 services make daily life easier for retirees. - Attractive Climate
Hungary enjoys mild and sunny weather for much of the year with bearable winters, making it ideal for those wanting to avoid extreme temperatures. - Cultural Richness and Living Environment
With its rich historical heritage, Hungary offers vibrant cultural life: museums, festivals, opera, gastronomy, and local traditions. Varied landscapes – rivers, lakes, natural thermal baths, national parks – enable numerous outdoor activities. - Integration Opportunities and Security
The local population is known for being welcoming. There are many expat associations and activities to facilitate integration. Hungary is also considered a peaceful and safe country, contributing to retirees’ well-being.
Examples of Popular Cities and Regions Among Retirees:
| City/Region | Benefits for Retirees |
|---|---|
| Budapest | Dynamic capital, rich cultural life, modern medical infrastructure, numerous thermal baths |
| Lake Balaton | Mild climate, water activities, peaceful resorts, preserved nature |
| Szeged | Lively university town, remarkable architecture, relaxed atmosphere |
| Pécs | Historic city, UNESCO heritage, pleasant climate, growing international community |
| Debrecen | Country’s second city, reputable hospitals, cultural festivals, very affordable cost of living |
Summary of Essential Benefits:
- Controlled Budget and Advantageous Taxation
- Accessible and Quality Healthcare
- Modern and Adapted Infrastructure
- Pleasant Climate
- Exceptional Cultural and Natural Heritage
- Active Expat Community and Welcoming Local Population
- Safe and Stable Country
Living in Hungary means choosing an enjoyable quality of life, a secure and dynamic environment, while benefiting from economic advantages and surroundings conducive to a serene retirement.
Good to Know:
Retiring in Hungary offers numerous advantages for European seniors; the cost of living is particularly affordable, with competitive prices for housing and food making daily life more accessible. Hungary also shines through the quality and accessibility of its healthcare, often less expensive than in other European countries, with modern medical infrastructure. Retirees benefit from adapted infrastructure, such as well-developed public transportation and green spaces conducive to relaxation. The temperate climate, with warm summers and mild winters, is appreciated, as is the country’s cultural richness, offering numerous activities from festivals to museums. Budapest, with its architectural charm and famous thermal baths, and the Lake Balaton region, popular for its picturesque landscapes, are prime locations to settle. In terms of security, Hungary is a safe country where retirees can easily integrate into the local community, thanks to Hungarian hospitality and numerous clubs and associations dedicated to expats.
The Best Hungarian Cities for Real Estate Investment
Budapest is the most sought-after destination for real estate investment in Hungary, particularly due to its dynamic market, modern infrastructure, and strong appeal for expats and seniors. The capital attracts with its rich cultural life, museums, theaters, and festivals, while offering a significant expat community and easy access to quality healthcare. The cost of living remains 20-30% lower than in France, with rents often under €500 for a one-bedroom apartment in non-central neighborhoods.
Real Estate Trends and Prices in Budapest
| Property Type | Average Price (Center) | Average Price (Outskirts) | Average Annual Rental Yield |
| 1-Bedroom Apartment | €3,500/m² | €2,200/m² | 4–6% |
| 2-Bedroom Apartment | €4,000/m² | €2,600/m² | 4–6% |
Key Strengths for Seniors:
- Efficient transportation network
- Wide choice of medical services and private clinics
- Dynamic cultural and community life
- High sense of security
Secondary Cities: Pécs, Szeged, Debrecen
For those seeking a calmer environment and even lower living costs, Pécs, Szeged, and Debrecen are increasingly popular alternatives.
| City | Average Apartment Price (€/m²) | Cultural & Quality of Life Assets | Expat Community | Healthcare Access |
| Pécs | 1,500–2,200 | Historical heritage, Mediterranean climate, museums | Growing | Good |
| Szeged | 1,600–2,300 | Art Nouveau architecture, student life, festivals | Present | Good |
| Debrecen | 1,700–2,400 | Renowned university, green spaces, security | Significant | Excellent |
Advantages for Seniors:
- Peaceful and secure living environment
- Very affordable cost of living (rents often under €400/month)
- Easy access to healthcare and presence of modern clinics
- Varied cultural activities and pleasant climate, particularly in Pécs and Szeged
Local Real Estate Market Trends:
- Moderate price increases in secondary cities, but rental yields remain attractive, between 5-7% depending on location and property type.
- Strong demand for small units, particularly in city centers or near universities.
Key Criteria for Expat Seniors:
- Cost of Living: very competitive, enabling comfortable lifestyle with European pension.
- Healthcare Access: quality public and private hospitals, English-speaking doctors in major cities.
- Expat Community: active support networks in Budapest and growing presence in secondary cities.
- Security: low crime rates in most Hungarian cities.
Key Takeaways:
Budapest combines urban dynamism with access to quality healthcare, ideal for secure real estate investment with good returns.
Pécs, Szeged, and Debrecen offer peaceful living environments, reduced cost of living, and cultural immersion, perfect for seniors seeking comfort and serenity.
Good to Know:
Budapest, Hungary’s capital, is a prime destination for expat seniors thanks to its dynamic real estate market, offering modern infrastructure and a flourishing international community. Prices remain affordable compared to other European capitals, with interesting rental yield opportunities. Meanwhile, cities like Pécs and Szeged stand out for their tranquility, attractive living costs, and rich cultural life, ideal for retirees. These secondary cities offer better value for real estate purchases and guarantee easy access to quality healthcare, while benefiting from a secure environment.
Hungary’s Cost of Living: An Advantage for Seniors
Cost of Living Comparison: Hungary vs Other Popular European Retirement Destinations
| Country | Cost of Living (vs France) | City Center Rent (2 rooms) | Restaurant Meal |
| Hungary | 25–37% cheaper | ~€842/month | ~€10 |
| Spain | 17–25% cheaper | ~€950/month | ~€12 |
| Portugal | 15–20% cheaper | ~€1,000/month | ~€13 |
| France | Reference | ~€1,200/month | ~€15 |
Hungary therefore shows an overall lower cost of living compared to other popular European retirement destinations, particularly for housing, leisure, and food.
Average Monthly Expenses for a Retired Couple in Budapest or Pécs
- Budapest
- Rent (2-bedroom city center): ~€850–900
- Utilities and Internet: €120–150
- Groceries: €350–400
- Unlimited public transport: ~€30/person
- Supplementary health/occasional private consultations: €50–100
- Pécs (more affordable university city)
- Rent (2-bedroom city center): ~€600–700
- Other categories similar, slightly cheaper groceries.
For a couple living comfortably in a major Hungarian city:
Estimated total monthly expense = between €1,500 and €1,800
Impact of Exchange Rates on Expat Seniors’ Purchasing Power
- Hungary uses the Hungarian forint (HUF); the euro is widely accepted in major cities.
- When the euro strengthens against the HUF, expats receiving euro pensions see significant improvement in purchasing power.
- If the HUF depreciates or local inflation isn’t compensated by exchange rates, some imported goods or services may cost more for foreign residents.
- Annual variations can impact an average budget by several hundred euros per year.
Average Prices of Common Goods and Essential Services in Hungary
Indicative list:
- Baguette/white bread (~500g): €0.75
- Milk (~1L): €0.95
- Eggs (12): €2
- Chicken breast (~1kg): €6
Essential services:
| Service | Average Price |
| Transport pass | €30/month |
| Basic private medical consultation | from €30 |
| Private specialist consultation | €50–80 |
| Taxi transport | Starting fee: approx. €3 + distance: approx. €0.85/km |
| Cinema | €7.40 |
| Monthly fitness | €35 |
| Men’s haircut | €12 |
The moderate housing cost—the main budget item—and attractive restaurant prices allow Western retirees with stable foreign pensions to achieve high quality of life without major compromise. Monthly savings often exceed those in France or Spain while providing access to rich cultural offerings, accessible private medical care, and a dynamic urban environment.
The Hungarian choice thus enables both active and peaceful seniors not only to “get more for their money,” but also to preserve or even improve their overall financial and social well-being.
Good to Know:
Hungary’s cost of living is considerably advantageous for seniors, distinguishing it from popular European countries like Spain or Portugal. In Budapest, a retired couple can live on approximately €1,200-1,500 per month, including housing, utilities, and leisure, while in Pécs, expenses can drop to €1,000, representing significant savings. Common consumer goods, such as food products and essential services, are generally cheaper in Hungary, with an affordable restaurant meal costing around €4-6, and public transportation displaying reasonably low fares. Exchange rates also influence expats’ purchasing power, often in their favor, especially with a relatively stable local currency. Finally, healthcare is of good quality and accessible, offering retirees security and peace of mind. In summary, Hungary provides high quality of life at lower cost, enabling seniors to increase their purchasing power and enjoy a serene retirement without compromising comfort.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
