How to Buy an Apartment in Hungary: The Complete Guide for French Buyers

Published on July 6, 2026 and written by Cyril Jarnias

Buying an Apartment in Hungary is attracting more and more French people, whether to settle down, diversify their assets, or benefit from rental yields still higher than those in major Western European cities. But between local rules, how the land registry works, permits for foreigners, taxation, and the question of financing, the process can quickly become confusing.

Good to know:

This guide details all the steps for a French person looking to buy an apartment in Hungary in 2026: budget preparation, purchase procedure, renovation, and renting it out.

Understanding the Hungarian Real Estate Context Before You Start

Before viewing a single property, understanding the market environment in 2026 is essential. Hungary is coming off several years of sustained price increases, driven by local demand, subsidized loan programs, and a limited supply of new housing.

Prices have already risen sharply since 2010, particularly in Budapest, where an increase of about 260% has been noted over the period. The years 2024–2025 were still marked by a significant rebound, with national annual growth of around 15 to 20%, and up to 25% in the capital. At the start of 2026, the Hungarian Central Bank even estimates that prices exceed economic fundamentals (incomes, rents, construction costs) by about 14%.

Caution:

Local players consider a brutal crash unlikely in the short term thanks to market support through subsidized loans (Otthon Start), falling interest rates, a recovery in lending, and an increase in building permits despite staggered deliveries.

A French person buying in 2026 must therefore accept two contradictory realities: prices are high compared to historical levels, but the probability of a major correction remains limited in the short term. The right strategy is to buy well (location, quality of the property, negotiated price), rather than speculating on a massive and widespread decline in values.

What Foreigners – and the French – Can Buy in Hungary

First, a reassuring point: foreigners can legally buy residential real estate in Hungary. There is no quota on foreign ownership of apartments or condominiums, and the sale of residential properties to non‑Hungarians is permitted throughout the country.

French citizens, as European Union members, fall under the simplest regime. For standard residential properties, they enjoy acquisition rights very close to those of nationals.

Types of Properties Available

In practice, a French person can acquire: real estate, shares, bonds, foreign currencies, and tangible assets.

– apartments in condominiums (most common in Budapest)

– single‑family homes in residential areas

– townhouses, villas, small residential buildings

Example:

In the case of an apartment, the buyer becomes owner of their private unit and an undivided share of the common areas and the land supporting the building. For a house, they own both the building and the land, provided the latter is classified for residential use.

Certain categories of land and assets, however, remain largely restricted for foreigners, including for EU citizens: this applies to agricultural land, most forests, and a number of properties classified as “historic,” architectural monuments, or protected natural areas. Very cheap rural listings often hide such constraints.

Acquisition Permit: Who Is Affected?

Hungary makes an important distinction between buyers who are EU/EEA nationals and others. For the French, crucial point: no specific permit is required to buy an apartment or residential house.

2-4

This mechanism typically adds two to four months to the purchase timeline for non‑EU/EEA buyers.

Even though you, as a French person, are not subject to this requirement, it is useful to know it exists, especially if you are buying jointly with a non‑EU co‑investor, or through a structure.

Step 1: Prepare Your Budget and Factor in All Costs

Buying in Hungary is not just about the price on the listing. For a French person, ancillary costs – taxes, legal fees, possible renovations, currency exchange – change the budget picture. It is reasonable to set aside 5 to 8% of the purchase price for transaction fees alone, excluding renovation.

Main Cost Items at Purchase

The table below summarizes the main expense items for a standard apartment purchase:

Cost Item	Amount / Indicative Rate	Remarks
Transfer tax (stamp duty)	4% of property value	Assessed on market value as determined by the administration
Lawyer’s fees	Approx. 0.5% to 1.5% of price	Often around 0.8–1% for a foreign buyer
Notary fees (countersignature)	0.01% to 0.05% of price	Limited role; the lawyer remains central
Administrative fees (land registry, registration, possible permits)	Approx. €300 + various stamps	Excluding permit for non‑EU/EEA
Acquisition permit fees (non‑EU)	50,000 to 65,000 HUF (~€130–160) per property	Not applicable to French citizens
Translation / notarization costs	Variable (a few hundred euros)	Depending on volume of foreign documents
Survey / bank file fees	Variable	For buyers with local credit

In the example of an apartment at 50 million HUF (about €125,000 at the reference rate used in studies), the transfer tax alone represents 2 million HUF, or around €5,000. This is one of the highest acquisition tax rates in Central Europe.

Recurring Taxes and Operating Budget

Once you are an owner, you need to account for some annual charges:

Tip:

In Hungary, the local property tax (építményadó) is set by the municipality and can range from nearly zero to 1,100 HUF/m² or 1.8% of value. Condominium fees and the annual maintenance budget amount to about 1% of the property’s value, i.e., 400,000 to 800,000 HUF per year for an average apartment in Budapest. For pre‑war historic buildings, these maintenance costs climb to 600,000–1,200,000 HUF per year, or more.

A serious landlord sets aside 5 to 10% of gross rent for minor repairs and maintenance, with a higher percentage for older buildings.

Step 2: Manage the Euro‑Forint Exchange Rate and the Financing Question

Hungary is not in the euro zone: real estate prices are denominated in forints (HUF), and transactions are settled in HUF. For a French person, this creates a dual issue: managing exchange rate risk and accessing local credit.

Forint Exchange Rate Trends and Currency Strategies

Around the start of 2026, the forint is broadly stabilizing in a range of 380–390 HUF per 1 EUR, with periods of volatility around announcements from the central bank and the general election scheduled for April 2026. Scenarios from major banks range from stability around 375 HUF to a possible depreciation toward 400 HUF by the end of 2026.

For a buyer converting their euros over the various stages (deposit, balance payment, renovations), a few points of exchange rate difference on a €300,000 budget can represent tens of thousands of euros. This is why specialists recommend planning ahead:

– forward contract: fixing the exchange rate in advance for a specified amount, up to 12 or 24 months, against a margin deposit (5 to 10%)

– limit orders (“market order”): automatic conversion when a target rate is reached

– stop‑loss orders: limiting losses in case of rapid adverse movements

Caution:

The worst approach for an apartment purchase is to convert at the last minute, with no visibility on the overall cost in euros.

Accessing a Hungarian Mortgage as a French National

Hungarian banks lend to foreigners, including non‑residents, but with significantly stricter requirements than for residents.

In 2026, the main trends are as follows:

– interest rates for foreigners: typically between 6 and 9% APR for loans in HUF

– loan‑to‑value (LTV) ratio: 50 to 70% in practice for non‑residents, even though regulations allow up to 80% for residents; banks apply more cautious internal policies for foreigners

– required down payment: at least 30 to 50% of the purchase price

The banks most accustomed to handling foreign applications, particularly from French clients, are OTP Bank, K&H, Erste Bank, and Raiffeisen. They are generally willing to consider income earned in another EU country, but may require more documentation for income from outside the EU.

The Hungarian Central Bank also regulates the debt‑to‑income ratio: total monthly loan payments generally cannot exceed 50% of documented net income. This constraint also applies to French borrowers.

The Otthon Start Loan (FIX 3%): A Bonus Reserved for Residents

Since September 2025, a new subsidized mortgage has significantly boosted the market: Otthon Start, sometimes called FIX 3%. This is a loan at a maximum rate of 3%, for up to 25 years, capped at 50 million HUF (approximately €125,000), intended for first‑time buyers.

To qualify, several conditions apply:

– must not have owned more than 50% of a home in Hungary in the last ten years (with limited exceptions)

– must have a Hungarian address card (declared residence)

– must be affiliated with the Hungarian social security system for at least two years, with the last 180 days in employment or self‑employment

– must stay within price caps: 100 million HUF for an apartment, 150 million HUF for a house, and a maximum of 1.5 million HUF per square meter

For a non‑resident French person, this program is therefore only accessible if they have already established their life in Hungary (official address, social coverage, sometimes permanent residence). In return, the required down payment drops to 10% of the price, which is very attractive.

Even though few French people are eligible from the outset, this program impacts the market: apartments that meet these price caps attract a large number of Hungarian buyers who are able to afford them thanks to the 3% loan, which strengthens demand in these segments.

Step 3: Obtain a Hungarian Tax Number and Open a Bank Account

To buy an apartment in Hungary, certain administrative steps are essential for a French national, even if they remain a non‑resident.

The Hungarian Tax Number (adóazonosító jel)

The Hungarian tax number is obtained from the tax authority, the NAV (Nemzeti Adó‑ és Vámhivatal). It is an almost systematic requirement for:

– opening a local bank account

– appearing correctly in tax records when paying the transfer tax

– completing certain property formalities

The procedure is relatively straightforward:

Steps to Obtain a Document

Here are the conditions and documents required to finalize your application.

Required Documents

Submit the completed T34 form (online or at a NAV office) along with a valid passport.

Address and Residence

You can provide a foreign address without needing to have a Hungarian home already.

Processing Time

The document is usually issued the same day or within a few business days.

The main NAV offices in Budapest, especially on Dózsa György út in the 14th district, are used to handling these applications.

Opening a Bank Account as a French National

In practice, a Hungarian bank account is almost essential for:

– making deposits and paying the balance to the seller or into an escrow account

– paying transfer taxes and other administrative fees

– subsequently paying condominium charges and utility bills

Banks almost always require the physical presence of the foreign client when opening an account. For a French person, the standard checklist includes:

Documents Required for Account Opening

Gather the following items before starting your banking procedure in Hungary.

Basic ID and Proof

Original passport, proof of address in your home country (less than 3 months old: bank statement, utility bill, or official letter), and your Hungarian tax number.

Additional Documents

If required, provide proof of a link to Hungary: a sales agreement, rental contract, or a letter from your lawyer explaining the purpose.

Contact Information

A phone number is required to activate online banking. A foreign number is generally accepted.

Requirements are strictly governed by EU anti‑money laundering directives and Hungarian Law LIII of 2017. Arriving without any of the requested documents often leads to a rescheduled appointment.

Opening a current account costs about a dozen euros on average; monthly fees range around €5 to €8. Activation time varies from 1 to 3 days, or even up to two weeks in more complex cases.

Step 4: Search for the Right Apartment and Get the Right Help

The search phase can be done on your own via listing portals and agencies, or supported by independent consultants who work exclusively for the buyer, without commission from the seller. Several specialized firms assist foreigners in selecting and verifying properties in Budapest, Debrecen, or around Lake Balaton.

The Central Role of the Hungarian Lawyer

In Hungary, it’s impossible to become a property owner without using a local lawyer (“ügyvéd”). They are responsible for:

Good to know:

The lawyer checks the legal status of the property in the land registry (tulajdoni lap) to identify mortgages, easements, liens, or usufruct rights. They draft and countersign the sales contract, then submit the file to the land office (Földhivatal) to register the new owner. Finally, they handle tax notifications to the NAV.

A contract not countersigned by a qualified lawyer is simply unenforceable in the land registry. For a French person, it is crucial to choose a lawyer who is independent of the agency or seller, and who can work in French or English. Fees are usually between 0.5 and 1% of the price, with a minimum of 150,000–200,000 HUF for smaller properties.

Conduct a Technical Due Diligence Before Signing

Beyond legal checks, many foreign buyers have a technical inspection of the property carried out before committing. Engineering and inspection firms like ATROX Engineering or independent inspectors offer:

Comprehensive Technical Diagnosis

The comprehensive technical diagnosis (DTG) covers several essential aspects of the building to assess its overall condition and plan any work.

Structure and Shell

Structural inspection of load‑bearing walls, floors, and cracks to detect any issues.

Roof and Waterproofing

Analysis of the roof, waterproofing, and insulation to prevent leaks.

Technical Systems

Check of water, gas, electricity, heating, and ventilation systems to ensure safety and comfort.

Windows and Facades

Inspection of windows, facades, and thermal bridges, often using a thermal camera.

Work and Costs

Estimation of necessary work and future operating costs to plan investments.

A full diagnosis on an apartment generally costs between €150 and €280 depending on size, with an illustrated report delivered within 24 to 48 hours. For a house, prices rise to around €330.

This report is a very effective negotiation tool. It also helps avoid unpleasant surprises in older Budapest buildings, where issues with dampness, outdated installations, or heat loss are common.

Step 5: Offer, Preliminary Contract, Deposit, and Timeline

The Hungarian purchase process follows a fairly standard sequence, but with some specifics.

Reservation and Deposit

In competitive markets, a buyer who wants to secure an apartment may first sign a reservation agreement accompanied by a small deposit, typically 1 to 2% of the price. This sum reserves the property for a short period, while final checks and the main contract are completed.

Next comes the actual “pre‑contract” (preliminary contract or directly the final contract), drafted by the lawyer. At this stage, it is customary for the buyer to pay a deposit of around 10% of the purchase price.

In summary:

Contractual Step	Typical Deposit Amount	Main Purpose
Reservation agreement (optional)	1–2% of price	Secure the property for a few days/weeks
Main contract (sale)	10% of price (standard deposit in Hungary)	Formalize the sale, initiate banking steps

The balance is paid at the closing date specified in the contract, often upon signing of the final deed or at the end of the loan process for financed purchases.

Securing Payments

Local practice allows structuring payments according to safety milestones: a first payment at signing, then the balance after submitting the registration application to the land registry, or even after actual registration is obtained. With an experienced lawyer, it is possible to condition certain sums on the successful completion of formalities.

Good to know:

For renovation work, it is recommended never to pay more than 30 to 40% of the price upfront to a reputable contractor. The balance should be divided into tranches based on stages (demolition, systems, finishes), and a retention of 10 to 15% should be held until final acceptance of the work.

Step 6: Taxation of the Purchase and Future Investment

In addition to the transfer tax of 4%, several tax aspects are of direct interest to a French investor.

Purchase Taxes and Possible Relief

The basic rule is simple: every buyer – Hungarian, European, or non‑European – pays 4% transfer tax on the market value. For very high‑value properties (over one billion HUF, about €2.6M), a reduced rate of 2% applies on the excess portion, with an absolute cap on the tax of about 200 million HUF.

Good to know:

Relief schemes exist for young residents or primary residence transfers, but a non‑resident French investor will generally have to pay the full 4%.

Purchases of new homes also involve VAT: in 2026, a reduced rate of 5% applies to new homes up to a certain size limit (150 m² for apartments, 300 m² for houses), beyond which the full rate of 27% applies. The price quoted by developers usually includes this VAT.

Taxation upon Resale

Upon resale with a capital gain, Hungary applies a flat income tax of 15% on the net profit. The tax base takes into account:

– the initial acquisition price

– documented renovation expenses

– selling costs (agency, lawyer, etc.)

Caution:

The Hungarian system reduces the taxable gain by 10% per year starting from the fifth year of ownership, eventually becoming zero after fifteen years, thus eliminating the capital gains tax entirely.

A French person who is tax resident in France also remains liable to declare these rental income and capital gains in their French tax return, with the bilateral tax treaty determining the mechanisms for tax credit or elimination of double taxation.

Step 7: Renovate Your Hungarian Apartment Smartly

Renovation is often the big unknown for a foreign buyer. In Hungary, especially in Budapest, many apartments in older buildings need at least a refresh, and often a major overhaul of the systems.

Costs rose very sharply after 2021 but have stabilized by 2026 without returning to pre‑crisis levels. Additionally, since most materials are imported, quotes are sensitive to international prices.

Renovation Cost Ranges

Available data allows for an indicative grid (in euros/m²):

Type of Renovation	Main Content	Estimated Cost (€/m²)
Cosmetic refresh	Painting, sanding/refinishing floors, changing fixtures	250 – 400
Light renovation	Painting, floors, general refresh	500 – 800
Intermediate renovation	Bathroom redone, new kitchen, partial MEP, floors, painting	550 – 850
Full renovation	Plumbing, electrical, kitchen, bathrooms	1,200 – 1,800
Heavy “full gut” renovation	Demolition, complete new systems, parquet floors, premium finishes	900 – 1,500
High‑end renovation	Moldings, Hungarian point parquet, luxury finishes	2,000 – 3,000
Heritage renovation (listed building)	Restoration of moldings, parquet, period plasterwork	1,300 – 2,200+

In Budapest, for a foreign owner, the ranges in HUF per square meter are typically between 150,000 and 400,000 HUF, with the following benchmarks:

Type of Renovation in Budapest	Estimated Cost (HUF/m²)
Cosmetic	120,000 – 160,000
Full standard	220,000 – 320,000
Premium	320,000 – 450,000

Concretely, this means, for example:

28–35

Cost in millions of HUF for a premium renovation of an 80 m² apartment intended for Airbnb‑type rental

Breakdown of Some Work Items

Breaking down by trade helps refine a budget. The following order of magnitude is given in HUF:

Work Item	Indicative Cost
Demolition (walls, floors)	3,000 – 6,000 HUF/m²
Electrical (wiring, outlets)	5,000 – 15,000 HUF/m²
Masonry / tiling	6,000 – 20,000 HUF/m²
Plumbing (per fixture)	8,000 – 25,000 HUF per point
Gas system upgrade	50,000 – 200,000 HUF
Custom carpentry	30,000 – 200,000 HUF per item
Wall and ceiling painting	1,500 – 3,500 HUF/m²
Flooring	3,000 – 15,000 HUF/m²
Windows and doors (per unit)	50,000 – 300,000 HUF
Wall/floor/ceiling insulation	10,000 – 50,000 HUF/m²
Architect / designer	100,000 – 500,000 HUF
Debris removal	20,000 – 80,000 HUF

Heritage renovations – restoring a herringbone parquet floor or stucco ceilings – are particularly costly: €80 to €140/m² for a restored parquet floor, €90 to €160/m² for ceiling plasterwork.

Tip:

Request at least five detailed quotes, discard the lowest and highest, then compare the remaining three, requiring a precise breakdown of materials/labor as well as a price per square meter excluding tax and including tax (VAT).

Managing the Risk of Cost Overruns

In Budapest’s older buildings, surprises are the norm: deteriorated beams or pipes, hidden conduits, irregular plaster thicknesses, missing materials. It is therefore advisable to set aside a contingency reserve of 15 to 20% above the overall quote to absorb unforeseen issues.

Construction timelines for an apartment range, depending on complexity, from 3–4 weeks (simple refresh) to 3–6 months for a major renovation. Smart phasing also helps smooth out expenses, especially for rental investors:

– Phase 1: modernize the bathroom, paint, basic lighting, mattress, Wi‑Fi (3–4 million HUF for 60 m²)

– Phase 2: improve the kitchen, add air conditioning, additional furniture, and decoration (1.5–2 million HUF)

– Phase 3: complete floor replacement, windows, structural modifications, often financed from rental income after 3–5 years

Step 8: Rent Out Your Apartment and Optimize Profitability

For a French investor, the appeal of Hungary also lies in still‑high gross yields: on a renovated mid‑range apartment, the Budapest and Warsaw markets offer around 7 to 9% gross rental yield, well above Western European cities.

Rental Market in Budapest 2026

Average rents observed at the beginning of 2026 in Budapest provide the following benchmarks:

Type of Housing	Average Monthly Rent (HUF)	Comments
Studio	~225,000	210,000 – 240,000 depending on district
1 bedroom (T2)	~285,000	250,000 – 320,000
2 bedrooms (T3)	~390,000	Pricier in sought‑after districts
Average rent per m²	~6,500 HUF/m²	approx. €16/m²

In the countryside, rents are significantly lower: 140,000–180,000 HUF/month for a studio, 170,000–230,000 HUF for a one‑bedroom apartment.

Factors That Boost Rental Value

The five features that increase rent the most on a renovated property

High‑end Equipment

Modern, high‑quality appliances and fixtures.

Energy Efficiency

Optimal insulation and energy‑efficient systems.

Premium Location

Close to public transport, shops, and services.

Outdoor Space

Balcony, terrace, or private garden highly sought after.

Secure Parking

Private parking spot or garage included.

– air conditioning: +15,000 to 30,000 HUF per month in rent

– modern heating and good insulation: +10,000 to 20,000 HUF

– elevator (above the 3rd floor): +10,000 to 25,000 HUF

– balcony or terrace: +15,000 to 35,000 HUF

– pet‑friendly: +5,000 to 15,000 HUF

Renovations with the Best Return on Investment

For a French landlord, focusing on five types of work statistically provides the best cost‑to‑rent‑increase ratio:

Type of Targeted Renovation	Estimated Cost (HUF)	Monthly Rent Gain (HUF)
Kitchen refresh	800,000 – 1,500,000	+20,000 – 40,000
Bathroom modernization	600,000 – 1,200,000	+15,000 – 30,000
Window / insulation upgrade	400,000 – 1,000,000	+10,000 – 25,000
Adding air conditioning	300,000 – 600,000	+15,000 – 30,000
Flooring upgrade	400,000 – 900,000	+10,000 – 20,000

These figures show that an investment of a few million HUF in a kitchen and bathroom can be recouped in a few years of additional rent.

Regulation of Short‑Term Rentals

Airbnb‑type rentals have undergone regulatory tightening, particularly in Budapest. A moratorium on new short‑term rental registrations is in place until December 31, 2026. This means that a French person buying with this model in mind must precisely verify, at the district level, whether it is possible to register their activity.

Caution:

Some condominiums prohibit tourist rentals by their bylaws or general assembly decisions. It is essential to ask a lawyer to review these documents before signing a contract.

Step 9: Factor in Local Regulatory Developments

Alongside national rules regarding foreigners, Hungary has adopted a law on “local identity protection” that gives municipalities new tools to control the settlement of new residents and access to property.

Increased Powers for Municipalities

Since 2025, municipal councils can:

– define a “desired population level” and, once that is reached, restrict the registration of new residents

– impose conditions on new arrivals (contribution to network costs, commitment to follow certain local rules, etc.)

– establish a right of first refusal in favor of the municipality or local residents on property sales

– introduce a one‑time settlement tax charged to new property owners

Good to know:

This law does not prevent a French person from buying real estate, but in certain municipalities that have activated specific measures, the right to declare official residency there may be conditioned or denied.

Exceptions remain for:

– people born in the municipality or who lived there during childhood

– those taking up local employment

– students enrolled in a local institution

– families purchasing under certain public homeownership support programs

For now, these mechanisms mainly affect small towns and tourist areas where pressure on the housing market is high. In Budapest, a French person buying an apartment to live in or rent long‑term is, at this stage, little impacted by this law, but it is important to monitor the evolution of local regulations.

Step 10: Structure Your Project as a French Buyer – Practical and Strategic

In practice, how can a French person roll out their project to buy an apartment in Hungary in 2026?

A realistic sequence looks like this:

Tip:

Follow these 12 key steps: 1. Define your budget in euros including 5–8% for ancillary costs and a 10–20% cushion for renovation. 2. Consult your French bank or a currency broker for HUF conversion. 3. Plan a trip to Budapest to obtain your tax number (adóazonosító jel) at the NAV, open a bank account, meet a lawyer, and view properties. 4. Open an account with a major bank accustomed to foreign clients. 5. Choose an independent Hungarian lawyer experienced with foreign buyers to check properties. 6. Have a technical inspection carried out, especially in older buildings. 7. Submit a written offer, possibly with a small reservation deposit. 8. Sign the main contract with a 10% deposit after the lawyer has verified the title deed, mortgages, and condominium bylaws. 9. Finalize financing with a Hungarian bank if needed (provide French income documentation). 10. Pay the balance and have your lawyer register the transfer with the land registry. 11. Start renovations with a reputable contractor based on detailed quotes, with staggered payments. 12. Rent out the apartment long‑term in 2026, prioritizing air conditioning, insulation, and a balcony.

Throughout this process, the decisive factor remains the quality of your local support network: lawyer, technical inspector, possibly a consultant or project manager. In a market where gross yields can still reach 7–9% on a well‑located apartment, investing in solid support—a few hundred to a few thousand euros—is often what separates a successful transaction from a string of headaches.

Good to know:

For a French person, Hungary is no longer a very cheap eldorado, but it remains attractive thanks to solid rental demand, rising rents, and clear taxation. To succeed, you need to master local specifics and be demanding about the quality of the property and the work done.

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