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
Attorney's office e-mail info@drlittner.hu

Property market records in 2020

napi.hu, 04.01 – The property market may have stalled in 2020 but the quickest sales still happened within a single day: in Budapest a 200 square metre detached house in District 22 was sold for HUF 38.9 million within 24 hours in May 2020. Another detached house with a floor space of 110 square metres and two bedrooms on a 1000 square metre plot in Hajdúböszörmény was also sold within a day. The priciest residential property of Hungary at the moment is a residential palace on Andrássy út: its 2000 square metre, luxurious living space is located on a 1000 square metre plot and it is on the market for HUF 6 billion. The most expensive concrete block apartment was sold not in Budapest but in Siófok at Lake Balaton: the 79 square metre property fetched HUF 74 million. The least expensive home on sale, a 60 square metre derelict clay house on a 600 sq. m. plot in Négyes, a small village County Borsod, was offered for sale for HUF 300. The cheapest apartment of 2020 is on the market in Salgótarján for HUF 600,000.

Changes in the legislation of apartment purchase duties

napi.hu, 12.12.2017 – From 1 January 2018 there will be changes in the method of calculation of duties payable on apartment purchases. When calculating the “reduced” duty base, i.e. the value upon which the duty is payable or when applying duty exemption, the market value of an apartment sold within three years of the purchase can be considered, as opposed to one year allowed earlier. “Reduced duty” means that the buyer can deduct from the duty base created by the purchase of an apartment the market value of an apartment sold by the same buyer, i.e. the duty base will be the difference between the market value of the sold and the purchased apartments. As far as the market value of an apartment sold after the purchase is concerned the rules remain unchanged: it can only be reduced if the sale occurred within one year of the purchase transaction.