Published: November 25 2023
Hungary has become an attractive option for Russian home buyers who are seeking residency permits. The country offers a five-year residency permit program without the need for permanent residency, making it an appealing destination for investment.
Popular destination for investment
Hungary has gained popularity among Russian investors due to its relative affordability and the rapid rise of house prices. This makes it an attractive option for those looking to invest in real estate.
Goal of obtaining residence permits
According to a survey, 61% of Russian buyers invest in real estate with the primary goal of obtaining a residence permit or citizenship. Hungary's residency permit program aligns with this goal, making it a preferred choice for these investors.
Benefits of the residency permit program
The Hungarian government's five-year residency permit program offers investors the opportunity to obtain a residency permit without the requirement of permanent residency. This flexibility and ease of obtaining a residency permit make Hungary an appealing choice for Russian home buyers.
Other popular destinations for Russian buyers
While Hungary is growing in popularity, Russians still predominantly buy homes in Turkey and the United Arab Emirates. These countries remain the top choices for Russian investors in the real estate market.
Overall, Hungary's relative affordability, rapid rise in house prices, and the residency permit program make it an attractive destination for Russian home buyers seeking residency permits.
Questions & Answers
What is the residency permit programme in Hungary? The Hungarian government offers investors a five-year residency permit without the requirement of permanent residency. This program has attracted many foreign investors, including Russians, who are seeking to obtain residence permits or citizenship.
Why is Hungary a popular destination for investment? Hungary is a popular destination for investment due to its relative affordability and the rapid rise of house prices. Additionally, the residency permit programme offered by the government is an attractive incentive for foreign investors.
What is the purpose of buying real estate in Hungary for many Russian buyers? According to a survey, 61% of Russian buyers invest in real estate in Hungary with the goal of obtaining a residence permit or citizenship. The residency permit programme in Hungary provides an opportunity for them to achieve this goal.
Which countries did Russians mostly buy homes in during 2022? In 2022, Russians mostly bought homes in Turkey and the United Arab Emirates. However, Hungary is also becoming an increasingly attractive destination for Russian investors due to its affordability and the benefits of the residency permit programme.
Are Russians the only foreign investors in Hungary's real estate market? No, Russians are not the only foreign investors in Hungary's real estate market. Many investors from various countries are attracted to Hungary for its investment opportunities, including the residency permit programme.
