Lawyer's addressLövőház utca 20/A.
1024 Budapest Hungary

Attorney's phone number Tel.: +36 1 316 9233
Law office's fax number Fax.: +36 1 336 0107
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Rent growth slowed down in August, 22.09 – The rise in rents slowed down in August, with rents rising by around 1 percent compared to the previous month, with 1.1 percent in Hungary and 1.2 percent in Budapest. Despite seven months of steady increases, prices were on average only 3-4 percent above the level of a year earlier, the Hungarian Central Statistical Office (KSH) said in its latest report on the rent index published on Wednesday. Rents in the inner districts, which form the backbone of Budapest’s supply, rose by 2.6 percent over a year, while the most significant increase in the capital was in the transitional districts of Pest, at 5.0 percent, MTI reports. Compared to August last year, rents rose by 3.7 percent nationwide and 2.8 percent in Budapest. Compared to the low in January 2021, the average rent of apartments for rent in Budapest was about 9.8 percent higher, ranging between 7 and 13 percent per district.

There’s no going back: changes in the land registry registration procedure, 17.09 – After 1 February 2023, think carefully about the rights you register in the Land Registry. Under the new Land Registry Code, which will enter into force on that date, you will not be able to “change your mind” after registration, i.e. to cancel the contract on which your registered right is based and ask for the land register to be restored to its original state. Although this is a substantial tightening of the current rules, the legislative objective is not entirely clear and there are some practical difficulties to be expected. The essence of a property title transfer is that the owner transfers ownership of the property to another person, and the land registry registers the new owner in the land register accordingly. In practice, it happens from time to time that the parties change their minds afterwards for some reason and decide to terminate the previous title transfer contract.

What would Hungarians invest HUF 10 million in?, 27.08. – In a recent survey, 46% of those surveyed replied that they would invest their HUF 10 million primarily in real estate. Foreign currency is in second place, but it lags way behind. 12 percent said they would put their money in dollars or euros. Gold is in third place, 11% have the highest confidence in precious metals and only 10% of the population would buy government bonds with the money. Only 5 percent are considering riskier investments such as shares, and the same number said they would buy cryptocurrency with HUF 10 million. The latter is considered an even riskier investment than shares. On a positive note, only 3 percent of respondents said they would keep their HUF 10 million in cash, and 8 percent would have chosen some other form of investment. 54 percent of women would invest their HUF 10 million in real estate, compared to only 38 percent of men. Government bonds came second for men, but not far behind in the popularity rankings were the euro and the dollar, as well as gold. For women, foreign currency was the second most popular investment, followed by gold, and government bonds were only in fourth place.