Real Estate

Real Estate Market Comparison: Budapest Vs Other Major European Cities

Budapest is a warm and welcoming city, helping expats feel at home. Its excellent public healthcare system, affordable living costs, and vibrant culture make it a prime European destination for those looking to make a new life abroad. However, some common challenges expats encounter include the language barrier and a complicated income tax system. Fortunately, there are a few steps expats can take to overcome these obstacles and ensure their move to Hungary is as smooth as possible. The Interesting Info about Real Estate Market Comparison.

Real Estate Market Comparison: Budapest vs. Other Major European Cities

The property prices in Budapest are lower than those in most other major European cities, making it a popular option for many international migrants. Several types of housing options are also available in the city, from luxury apartments to renovated farmhouses. Those interested in purchasing property should first consult with a real estate agent or broker to better understand the local property market. They can help them determine an appropriate asking price based on the value of similar homes in the area that have recently sold.

While the cost of living in Hungary is relatively low, expats must remember that VAT (value-added tax) is relatively high at 27%. Furthermore, the country’s complicated income taxes can be confusing and time-consuming.

Nevertheless, despite these drawbacks, Budapest is still one of the most affordable countries in Europe and is an excellent choice for those seeking an inexpensive lifestyle. As for the city’s culture, it is well known for its first-class cultural venues and excellent Hungarian cuisine. Additionally, it is famous for its quirky Ruin Pubs and countless wine and food festivals.

Aside from these attractions, the city is also known for its stunning architecture, particularly its iconic buildings, which are found in both Buda and Pest. The Buda Castle, Matthias Church, and the Fishermen’s Bastion are the most famous. Additionally, the city has several historic districts where you can find many museums and art galleries.

Another trait of the Hungarian people that expats often mention is their directness. This can be seen in their conversations and approach to work, where they don’t hesitate to ask personal questions or give their opinions. Expats should be prepared for this and be mindful of how they interact with their coworkers.

Digital nomads who want to live in Budapest can find accommodation in various ways, including online groups on Facebook geared towards expats where they can contact landlords directly. However, it is also important to remember that some landlords may attempt to take advantage of ex-pats by overcharging them. As such, it is a good idea for those considering moving to Budapest to consider Airbnb as an alternative to finding a long-term rental.

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