Average prices for new property in Pest are between Ft.270,000 and Ft.320,000, considerably more in Buda, while in a small town similar properties are available for around Ft.150,000 per square metre. Older properties are available at lower cost but are often in poor condition.

When buying property in Hungary you will need to appoint a Hungarian lawyer to conduct legal checks on the property on your behalf and to handle the financial transaction. A deposit of 10% of the purchase price is normally payable to the seller on signing the purchase contract, at which stage your name is included on the title sheet as confirmation of your intention to buy. When the outstanding balance is paid you will be registered on the title sheet as the exclusive owner of the property. Legal fees and stamp duty usually amount to around 10% of the purchase price.

Hungarian banks provide mortgage facilities for foreign buyers of up to 70% of the purchase price, repayable over a maximum of 20 years.

Details of properties for sale are available from estate agencies and advertised in local newspapers.

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