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Expat moving to Budapest – What you need to know

Expat moving to Budapest, Hungary

With the increase in numbers of expats moving to Budapest, Eastern Europe’s up and coming hotspot, there are facts that you need to know and assess, the least of which is how to find somewhere to live. Maybe you will rent first and buy later.

It has all the things Western cities have to offer with a good standard of living, a diverse culture and many job opportunities with a low cost of living.

Renting

Rents in Hungary rate as some of the cheapest in the world. Indeed Time magazine ranked Hungary as the 38th out of the 50 cheapest countries in the world.

Property prices 

Research has shown Hungary to be extremely cheap for property prices and that 80% of expats were happy with the cost of housing. Many expats begin by renting, love Budapest so much and then purchase their own property. Budapest is cited as being the top property investment in Europe by Tower International The Global Property Guide.

Where to live in Budapest

With many expats having families, schooling is a priority. This makes districts 2 and 12 very popular with their international schools and are only a short 20 minute drive to the city.

For those without families, districts 5, 6 and 7 are in the city centre. These also contain the top universities attended by many foreign students. They offer a broad range of degrees in English which are recognised world- wide.

District 14 caters for those on a budget where there are reasonable house prices amongst historic residential buildings. It is an easy reach of the city centre.

District 13 for those with lesser incomes also offers many options with new residential buildings.

Busy rental market

The market is extremely buoyant currently so the best approach is to use the services of property agencies who will take the hard work out of the equation by finding suitable properties and arranging viewings. This is a free service. Expats are generally seen as trustworthy tenants by landlords and will have previous references available. Amongst the advantages of using an agent are:

  • A personal service not found by internet usage
  • Vast experience
  • Tailoring a client to a property
  • Fraud protection
  • Maintenance and repairs in a timely fashion

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