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Foreign citizens barred from buying Hungarian property
Hungary restricts real estate sales to foreign citizens under a 1974 decree, allowing only returning ex Hungarians to purchase. Magyar Hirlap notes many so called foreign citizens are defectors from 1956. Inheritance may pass property to foreigners but all related dealings are tightly regulated including rents and income. A Lake Balaton lakeside home built by a 1956 defector remains legally allocated to the brother’s children. taxes total 9900 Forints annually.
MENTIONED IN THIS ARTICLE
Budapest
Hungary
Kohm Rset
Magyar Klap
Lake
Balaton
West Germany
Magyar Hirlap