NEWSROOM

Having close bilateral relations with Turkey in recent years, Hungary has now come to the agenda with the sale of real estate. Turks started to prefer village houses and summer houses in various regions of Hungary. Houses with prices ranging from 10 to 20 thousand euros also provide visa convenience.

*** This release is originally published in Turkish.
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ISTANBUL (TR) - As in many parts of the world in the Covid-19 process, the spread of remote work in Turkey led to the merger of living areas and working areas. Thus, while priorities in real estate preferences changed, eyes were turned to real estates in Hungary, the price of which ranged from 10 thousand euros to 20 thousand euros. Hungary, where official procedures such as purchase and title deeds can be easily carried out without going to Hungary thanks to the power of attorney to be obtained from a notary, has become the new address of Turkish citizens who both want to invest and want to spend their holidays in a quiet place in a different country. Bedrettin Gurcan, co-founder of Gurcan Invest, said: “Especially the low level of crime in Hungary leads those who want to be safe while vacationing with their family in different countries to own real estate in Hungary. In addition, visa applications are provided to real estate owners.”

Whether a summer residence or an investment

Stating that the diversity of possibilities plays a big role in Turkish citizens' choosing village houses in Hungary, Bedrettin Gürcan said, “Real estate ranging from 2 thousand to 5 thousand square meters and starting from 10 thousand euros to 20 thousand euros according to its square meter and architecture also offers important opportunities for cheap and smart investment. We have created a special portfolio after a long study of those that are legally hassle-free, suitable to be bought by foreigners and are the best in price/quality performance. Houses have about 5-10 acres of land, some houses have gardens such as vineyards, aquaculture or those who want to evaluate these areas in a different way is the preferred reason. Those who want to use the houses they buy for holiday purposes, such as summer, can stay 3 to 6 months a year by obtaining their visa. When certain conditions are met, homeowners are also provided with convenience at the point of residence permits. In this way, the ease of travel without an EU citizen is also opened up.”

Safe location is the reason to choose

Stating that Hungary's village houses with developed transportation facilities are preferred because of their safe location, Gürcan said, “Hungary is a country that is located in the heart of Central Europe and neighboring 7 different European countries. Many houses are sold near Lake Balaton, one of Europe's largest lakes and also known as the Hungarian Sea, or near world-famous vineyards such as Eger Pecs. The village houses are 1 hour from Budapest, 2 hours from Vienna, and a few hours from Austria, Croatia and Slovenia. Being close to different countries is especially advantageous for travelers. However, the primary reason for preference is that it is safe for families. As Gurcan Invest, we examine the crime rates in their regions in detail and determine the regions with the lowest crime rate.”

The process is completed in 1 month

Bedrettin Gürcan, who also gave information about the legal procedures of owning a house in Hungary, said, “While commission payments are made to intermediaries for trading in Hungary, Gurkan Invest provides commission-free purchase convenience for the real estates in its portfolio. Only 4% title deed fee is charged. Since real estate purchases in Hungary must be carried out under the consultancy of a lawyer, applications cannot be made in person. The cost of the lawyer varies between 1.000-1.500 euros according to the total amount of the real estate to be purchased. With the assistance of our partner law office based in Budapest, we can solve the mandatory permits and transfer of title deeds that must be obtained for non-EU citizens without the need for our customers to come to Hungary. While transactions can be handled without going to Hungary with a notary's power of attorney to be obtained from Turkey, the whole process is completed within 1 month. In this process, which is completely legal, there are no problems. Procedures such as a building permit are also quite easy in the process after the purchase of the House. In addition, different solutions such as container house are also possible.”

It is also attractive that life is cheap compared to Europe in general

Stating that one of the reasons for Hungary's preference is that Turkey is much cheaper in terms of both living and holiday costs compared to popular summer resorts, Bedrettin Gürcan said, “The minimum wage in Hungary, which has a gross domestic product of 24,515 euros per person with a population of 9,7 million, is 495 euros, i.e. 4,194 Turkish lira, according to recent records. A purchase containing basic foods is equivalent to about 7.5 euros, that is, 70 Turkish lira. It is possible to say that these costs have fallen further in areas where there are village houses. As such, owning property in Hungary is also attractive in terms of the cheap life. Moreover, many countries can be easily visited from Hungary, which has borders to 7 different countries and has a developed highway and train network with other European countries. From this point of view, we offer the opportunity to buy real estate not only in Hungary, but also in one of the most central countries in Europe.”