Although the number of Hungarian property investors fell by 14% from 2021 to 2022, the number of foreign buyers increased by 38% over the same period. What are the reasons, and what to expect at the end of 2023?

Main reasons:

- Weakening of the Hungarian forint against the euro and other currencies = real estate in Hungary has become cheaper for foreigners.

- Purchasing real estate gives grounds for obtaining a residence permit for investment.

How many in numbers:

In total, foreign buyers bought a record number of residences in Hungary: 8,000 units so far in 2023, up 10% from the pre-pandemic peak in 2018 and almost 40% more than in 2022.

Here's what else you can read about investment and immigration to Hungary:

- Everything you need to know about obtaining a residence permit in Hungary

- Where is it profitable to buy now?

- Prices for purchasing housing in Budapest

- Balaton: everything you need to know about real estate