Housing
Budapest’s rental market remained dynamic in 2024, with rental prices experiencing moderate 5% increases across most properties categories and locations. One-bedroom apartments saw the highest price surge (10%) due to strong demand. The market remains competitive, particularly for smaller apartments, requiring quick decision-making from tenants. Debrecen is another popular city undergoing its largest urban infrastructure development in decades, attracting investors and newcomers. The city center, Belváros, offers urban convenience with historic charm, while Nagyerdő remains a top choice for students and young professionals. A proof of long-term accommodation is required for the residence permit application.
Average monthly rates in Budapest
Studio
$500–$600
$1,000–$1,600
$1,600–$3,100
$2,100–$6,300
Two-bedroom
apartment
apartment
One-bedroom
apartment
apartment
$600–$950
Three-bedroom apartmen
Four-bedroom apartment
Average monthly rates in Debrecen
Studio
$600–$1,000
$1,100–$1,800
$1,200–$2,100
$1,550–$4,300
Two-bedroom
apartment
apartment
One-bedroom
apartment
apartment
$850–$1,300
Three-bedroom apartmen
Four-bedroom apartment
Key Trends:
- Furnished properties remain the preferred choice, with 90% of listings being fully or partially furnished.
- A notarized move-out statement, confirming the tenant will vacate at lease end, is commonly required and costs around €120–150.
- Short-term rentals are limited as landlords prefer 1-year leases and Airbnb restrictions tighten, driving up demand for short-term options while increasing long-term rental availability in the city center.
- Buda districts are growing faster, while central Pest remains the top choice for investors.
- In Budapest, Kőbánya attracts buyers with green spaces and revitalized housing, while Pesterzsébet gains interest for affordability and expanding amenities.
Challenges:
- Landlords often prioritize single tenants or couples without children when renting out small apartments.
- Banking restrictions for citizens from high-risk countries create difficulties in securing rental agreements.
Immigration
Hungary, as an EU and Schengen member, allows entry for nationals of other Schengen Area members, Schengen visa holders and nationals of visa-exempt countries under bilateral agreements, including the UK, U.S., South Korea, Argentina, Brazil, Ukraine, and Moldova. EU nationals don’t need a visa or residence permit for long-term stays but must obtain an EU Registration Certificate if staying over 90 days. Seconded employees from the EU also require a Posted Worker Notification.
In 2024, Hungary introduced major immigration reforms, adding new work and residence permits while retaining some, like the EU Blue Card. It is a residence permit for highly skilled workers. Applicants must have a job offer for at least 6 months in a position requiring a high level of education, along with proof of qualifications. The minimum monthly salary is HUF 883,671.
Other key programs include the Hungarian Card for non-highly qualified workers, the Intra-Company Transfer Permit for non-EU seconded employees, and Seasonal/Guest Worker Permits. Each has specific rules, processing times, and subtypes, making expert guidance essential. Foreign workers must also complete local registrations, including address, social security, and tax ID registration.
The White Card is Hungary’s digital nomad visa for third-country nationals who either work remotely for a foreign employer or own a profitable business abroad and manage it from Hungary. Applicants must have a net monthly income of at least EUR 3,000 for 6 months before entry. The visa is valid for 1 year, with a one-time extension for another year.
In 2024, Hungary introduced major immigration reforms, adding new work and residence permits while retaining some, like the EU Blue Card. It is a residence permit for highly skilled workers. Applicants must have a job offer for at least 6 months in a position requiring a high level of education, along with proof of qualifications. The minimum monthly salary is HUF 883,671.
Other key programs include the Hungarian Card for non-highly qualified workers, the Intra-Company Transfer Permit for non-EU seconded employees, and Seasonal/Guest Worker Permits. Each has specific rules, processing times, and subtypes, making expert guidance essential. Foreign workers must also complete local registrations, including address, social security, and tax ID registration.
The White Card is Hungary’s digital nomad visa for third-country nationals who either work remotely for a foreign employer or own a profitable business abroad and manage it from Hungary. Applicants must have a net monthly income of at least EUR 3,000 for 6 months before entry. The visa is valid for 1 year, with a one-time extension for another year.
Moving
Transportation: Hungary relies on river ports along the Danube, such as the Port of Budapest and Port of Győr-Gönyű. The main international airport for shipments is Budapest Ferenc Liszt International Airport (BUD).
Customs Duties: customs duties vary based on transport mode. Since January 2024 physical inspection may be required.
Customs clearance takes 3-5 working days for air and FCL shipments, and 5-10 days for LCL shipments.
Customs Duties: customs duties vary based on transport mode. Since January 2024 physical inspection may be required.
Customs clearance takes 3-5 working days for air and FCL shipments, and 5-10 days for LCL shipments.
