Advice on buying Property in Hungary

Buying Property in Hungary - Costs of Purchasing Property
Below are some brief points in purchasing property in Hungary.
Hungary is now part of the EU. Any person from a country within the EU can purchase a property in Hungary with legal permission.
The permit to purchase property is prepared by a lawyer, with the only restriction being that a foreign citizen cannot own a property on military land.
A maximum of 2 properties may be held by an individual, after this you must establish a company to hold the properties.
Property is purchased freehold.
TULAJDONI LAP is the Hungarian property deed.
A Contract is prepared detailing the property purchase transaction. The Contract Agreement is binding in Hungarian Law and will be in both English and Hungarian.
Mortgages are available for a foreign citizen secured on a Hungarian property.
Stamp duty of 6 is payable on resale property.
New developments may be free of stamp duty dependent on their size.
Long term letting is very feasible in Hungary.
The UK and Hungary have a double taxation agreement.
UK nationals are able to receive accident and emergency treatment free of charge as long as they have an E111 form available free from all post offices. However the E111 does not cover all medical fees or on-going medical treatment of a non-urgent nature.
Capital gains of 20 tax is payable on profits if an individual owns and sells a property.
Purchasing a property as an individual
Lawyer fees to arrange permit to purchase
6 Stamp duty (new properties costing less than 120,000 are exempt from stamp duty)
3 Purchase fee (standard throughout Hungary)
Yearly communal charge depending on property size
Yearly building insurance depending on property size
20 Capital gains tax on profit when selling the property
Purchasing a property as an individual requires approval from the Administrative Office of Budapest, taking up to 3 months.

These guidelines are meant for guidance only and describe a straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.