The Hungarian Guide - Investing and retiring in Hungary

  • A stunning capital with unique setting A stunning capital with unique setting
  • walking and birdwatching paradise walking and birdwatching paradise
  • undisturbed nature rich in rare species undisturbed nature rich in rare species
  • enjoy the 144 mile lakeside cycle track enjoy the 144 mile lakeside cycle track
  • Teeming with History Teeming with History
  • over 300 Thermal Health Spas and warm lakes over 300 Thermal Health Spas and warm lakes
  • picturesque lakes with Carp weighing over 100 lb picturesque lakes with Carp weighing over 100 lb
  • Feast on delicious sunripened local fruit Feast on delicious sunripened local fruit
  • Lake Balaton gets as warm as the Caribbean in the summer Lake Balaton gets as warm as the Caribbean in the summer
  • Tranquil Lake Balaton Tranquil Lake Balaton
  • Lush rolling hills of western Hungary Lush rolling hills of western Hungary
  • buy a thatched cottage for under £30 000.. buy a thatched cottage for under £30 000..
  • horsemen and nature lovers paradise horsemen and nature lovers paradise
  • Europe's second largest freshwater lake Europe's second largest freshwater lake
  • A paradise for watersport enthusiasts A paradise for watersport enthusiasts
  • Tihany peninsula- a pearl of history and nature Tihany peninsula- a pearl of history and nature

Blog

Balaton Uplands- stunning video

Volcanic hills, vineyards and the beautiful green-blue lake: what an amazing footage of the Uplands by MR Photography:

Transferring money abroad using Worldwide Currencies

Transfering money from the UK to an overseas bank account for a property purchase or house renovation ?
At first the task may seem quite daunting but we have discovered a very easy, inexpensive method which gives clients very attractive exchange rates when compared with UK high street banks who in comparison offer poor exchange rates and high transaction fees (typically £10 to £30 per transfer).

There are numerous specialist currency transfer brokers available to chose from but from my own experience the one giving the best service, the most competitive rates and the easiest to deal with is World Wide Currencies.
For small value transactions Transferwise is very popular.
Like most things best obtain one or two quotes at the time you need to transfer some currency and see who comes out on top.

Worldwide Currencies based in central London are a regulated specialist currency broker who will transfer money from the UK to an overseas bank account for FREE at exchange rates far better than you could achieve in the UK or in Hungary
So should you need to transfer money from GB pounds to HUF there is a simple process to follow.

STEP 1 : First of all register your details – https://worldwidecurrencies.com/join.html#private
Before conducting a currency transaction you will need to complete a very simple and short registration process. For both private and corporate clients this can be done online in just a few minutes, or alternatively you can simply download the application form to get started. There is absolutely no cost involved and no obligation whatsoever to conduct any transaction once you have registered.

STEP 2 : Secure a rate 3 days before you need the funds to arrive in Hungary
Contact Ross McArdle 0203 056 6232 and quote Reference R7831
Ross will discuss and study your currency requirements, quote an exchange rate for you and advise you on the amount of foreign currency you will receive / require.
Once you have accepted the quote, the exchange rate is guaranteed and will not change. The foreign currency you have requested is officially booked for you.
A Trade Note will be automatically emailed to you confirming the exact details of the trade booked, including the currency you have purchased and the rate agreed.

STEP 3: Payment
Send Worldwide Currencies your funds via electronic transfer to pay for the currency purchased, and using an Onward Payment Instruction tell us where you want the purchased currency to be sent. If you already have beneficiary details on file these will be stored on file so you will never have to resend should you have future transactions. Worldwide Currencies will keep you fully informed of everything that is happening along the way and once the funds have been received they will forward the currency as per your request.

Regulatory Information:
Financial Conduct Authority. Worldwide Currencies Limited is fully authorised by the Financial Conduct Authority under the Payment Services
Regulations 2009, registration 525361, for the provision of payment services.
HM Revenue & Customs. Worldwide Currencies is a registered MSB with HM Revenue & Customs – registration no: 12242572.
Contact Company Number: 05892452 MSB Number: 12242572
55 King William Street London EC4R 9AD tel + 44 (0)20 3326 4444
info@worldwidecurrencies.com
www.worldwidecurrencies.com

Exciting new properties in the area of Dég

Dég_Festetics_kastely

We have just added these properties to our database which are located in my favourite area of Dég, known for outstanding natural beauty and excellent services.

Inexpensive farmhouse with farming land  £12 000
Traditional Hungarian farmhouse in a beautiful small town, only 20 km away from Lake Balaton. The built size of the property is 60 m² , 2000 m²  land and outbuildings belongs to the property. The house needs renovation also needs a new bathroom and a new kitchen. There is only 1 room in the house but it is possible to extend as 30% of the plot can be built in. Mains water, mains electricity, mains sewage, mains gas connected to the house. Heating is with gas convector. The house located in the end of the town.

Farmhouse with Wine Cellar, Outbuildings and Large Land £15 000 
We are pleased to offer traditionally built charming farmhouse with the typical long porch in a well served town. This house is priced low as it could benefit from renovation. It has a big piece of land with mature fruit trees, vinyard, a cellar and outbuildings which make this property ideal for a variety of uses: smallholding, holiday rental or even a retreat.
Located in the small town of Dég with approx 2500 inhabitants boasts 3 supermarkets, library, Internet café, bank, doctors, dentist, pub, general hardware shops, builders merchant, café and  butchers. There is also a private fishing lake,a horse riding school and a beautiful neoclassical castle (a listed monument) and there are a lot of rarities in the 62 acre highly protected park of the castle. Lake Balaton is 28 kms and Siófok, a city with all amenities and a thermal spa called Galerius is half an hour by car. There are other British owners in this town.

Good Size Family House Close To Lake Balaton, Thermal Spa £16 500
This is a cute house with a lovely big garden in a medium sized well served village. The house is a traditionally built charming farmhouse and could benefit from upgrading (the owner had a quote for 10.000 GBP for the renovation). There is a 40 m² outbuilding and several mature trees and vegetable patch. 

20-30% ready family house located a nice but quiet part of the village. £17 000
The built size of the property is 90 m². In the house could be 2 bedrooms, kitchen-diner, bathroom. Mains water, mains electricity, mains gas, septic tank is on the plot. Plot size is 1000 m². This property located 15 km from Dég, village called MÁTYÁSDOMB.

Charming Family House With Summer Kitchen Close To Lake Balaton £21 600
We are happy to present this charming farmhouse which could benefit from upgrading though it is habitable as such. It has gas convector heating, outbuildings, a summer kitchen. Plot size is 1440 m².  Mains water, mains electricity, mains gas, septic tank is connected. It lies on 0.3 acres of land, there are several established fruit trees a lawned area and a vegetable patch.

Newly built, stunning house in a lovely village £68 500
This new built family house located in a nice but quiet part of the village. The built size of the property is 80 m² plus the loft. On the ground floor there are: entrance hall, kitchen-diner, living room, bathroom, 1 bedroom, toilet. In the loft space there are: 3 bedrooms, bathroom. The condition of the property is very good, only need a little bit of refreshment work. Mains water, mains electricity, mains gas connected to the house. Gas central heating in the house. From the living room opens a nice patio, that can be used all year. Large garage, cellar and storage belong to the property. Plot size is 1200 m².

Traditional Farmhouse with Outbuildings, Wine cellar and Large Plot £23 000
Traditional Hungarian long type farmhouse in a beautiful small town, only 20 km away from Lake Balaton. The built size of the property is 70 m² , 1800 m²  land and large outbuildings belongs to the property. The house needs renovation also needs a new bathroom and a new kitchen. There are 2 large bedrooms, entrance hall, kitchen, bathroom. Mains water, mains electricity, mains sewage, mains gas connected to the house. Heating is with gas convector. These are two entrances, new PVC doors and windows. Fruit trees, wine cellar and farming land belongs to the house.

Charming farmhouse adjacent to a forest £24 500
This is a cute house with a lovely big garden in a small, relaxed  village. The house is a traditionally built charming farmhouse with the typical long porch and could benefit from renovation. It is located in a lovely part of the town and right behind the property is a forest, brilliant for nature lovers.  The house has new roof, 2 new PVC doors and 1 new PVC window. At the moment there is only 1 bedroom, living room, kitchen, bathroom but it is possible to extend the house. Garage, cellar, fruit trees, nice flowers, walnut tree in the garden. Mains water, mains electricity, mains gas, mains sewage is connected. Gas central heating in the house.

Traditional Hungarian farmhouse in a beautiful small town, only 20 km away from Lake Balaton.  £ 28 800
The built size of the property is about 90 m² , 1500 m²  land and outbuildings, garage, cellar belongs to the property. The house in a good condition, it has new PVC doors and windows, shutters, nice bathroom, only need some modernization. There are a long corridor, 3 bedrooms, living room, kitchen with diner and bathroom in the house.  Mains water, mains electricity, mains sewage, mains gas connected to the house. Heating is with gas convector. Large farming land with fruit tress and a small vineyard.

Unique Family House With Large Barn And Outbuildings £47 800
This 180 m² characteristic family house located in the centre of the village, only a few minutes walk from shops, restaurants, pubs. In the house there are 2 large bedrooms with big window high ceiling and nice wooden floor, the kitchen and the bathroom needs renovation. The entrance hall is like a patio with lots a windows. Good size living room and work-room. Plot size is 1600 m².  Mains water, mains electricity, mains gas, mains sewage is connected. Gas central heating in the house. There are some outbuildings, large barn, cellar, 5 fruit trees, flowers and vineyard. The property needs some renovation but after the work it could be a lovely, unique family house.

The small town of Deg with approx 2500 inhabitants boasts 3 supermarkets, library, Internet café, bank, doctors, dentist, pub, general hardware shops, builders merchant, café and  butchers. There is a beautiful neoclassical castle (a listed monument) and there are a lot of rarities in the 62 acre highly protected park of the castle.

There is an 11 acre private fishing lake, which can be fished with permits issued by the village fishing association. www.deg-parkto.hu ( click on  Fotogaleria). Regularly restocked and managed the lake contains large carp, cat fish and zander  (Pike – Perch).  A further 8 excellent fishing lakes within a 8 mile radius of the village. A river flows in and out of the lake.

A small riding school is within walking distance of the village. One of Hungary’s most renown and best equestrian centres (Kaboka) can be found only 8 miles away at Kabokapuszta. Both riding schools operate on a pay as you go basis (approx £8 per hour). The Kaboka centre offers riding camp holidays for overseas visitors and the instructors are fluent in English. http://www.kaboka.com/en_home.html
Several other restaurants can be found within a 10 – 15 minute drive away. Only 20 mins drive from Lake Balaton ( Balatonvilágos ) and approx 35 mins drive from summer resort of Siófok on the southern shore of Lake Balaton. 9 miles from Enying & the M7 motorway linking the Adriatic coast and Budapest.

What does Brexit mean for Hungarian property owners?

What does this mean for those already owning a property or for those people considering buying a property in Hungary ?

In the short term there will be no changes at all.

The UK government must trigger Article 50 of the Lisbon Treaty – the legal process for quitting the EU. This starts the clock on a 2 year period during which time negotiations take place to agree new rules affecting trade, justice and reciprocal arrangements

Current situation :

In order to put things in perspective let’s consider the facts

The UK joined the EU in 1973, Hungary in 2004. Both countries still have their own currencies and are not in the Euro. Hungary along with 25 other European countries are part of Schengen – open borders. The UK is not a member of Schengen.

There are 2.2 million ex pats owning properties in other EU countries with 1.2 million of these living there permanently

In contrast there are over 3 million EU nationals living permanently in Britain. Currently there are approx 5000 expats with holiday homes in Hungary.

Each EU country will already have their own rules in place for both EU and non EU citizens buying property and living in their country.

The Hungarian government welcomes overseas property buyers irrespective of their nationality, grateful for the injection of money raised from taxes ( Stamp duty and VAT ) and boosting local businesses through the spending on goods and services. The property buying process is well defined and involves a Hungarian lawyer completing the necessary forms on your behalf and registering the Freehold title with the Hungarian Land Registry. For EU citizens the process is very simple. For non EU owners the solicitor must complete an extra form on your behalf. When the UK eventually exits the EU it is highly likely this extra form would need to be completed. There is no extra requirement on yourself as a buyer

Already there are several thousand Hungarian property owners from outside the EU most notably Switzerland. There are several owners that I am personally aware of from China and countries from the Middle East.

Future situation :

I have undertaken quite a lot of research based on available facts to help reassure people as overall I believe the impact of Brexit will be minimal. Let’s look at the main subjects in turn :-

Healthcare:

Could expats really be barred from EU healthcare and benefits ?

Very unlikely for several reasons.

For one it would open the door to retaliatory measures from the UK. In 2014-15 the British government paid out £674 million to other EU countries for expats requiring treatment across the EU. In contrast the UK government only received £49 million from other EU nations to treat their nationals residing in the UK. So the UK certainly pays its way !

At the moment the EHIC healthcard system is in operation across Europe whereby emergency healthcare is provided should healthcare be required whilst visiting another European country. This system works well and includes several non EU members such as Norway, Iceland and Switzerland. There should be no reason why this should change as the card is not an EU initiative

For those expats living permanently in Hungary they are encouraged to contribute to the state health system ( TAJ ) which entitles them to free health care and subsidised medicines and drugs ( a typical prescription drug costs approx £2.50 in Hungary ).The same health cost contribution also applies to Hungarian nationals. The costs are the same for both Hungarians and foreigners at 7,500 Hungarian Forints per month = approx £19

This is a small cost to pay for shorter waiting lists and excellent treatment – Hungary has twice as many doctors per person and twice as many hospital beds per capita than the UK

As there is no difference in fees for Hungarian nationals and foreigners – irrespective of EU membership or not, this is likely to continue

 

Volatility to Currency Markets and increase in costs

In the short term it is inevitable that currency markets will be more volatile than normal. The Pound has dropped against the Euro but less so against the Hungarian Forint.

Prior to Brexit the Pound bought approx 400 Forints. In October 16 the rate was 340 Forint. To put things in perspective when I purchased my property in 2007 the exchange rate was approx 290 Huf to £1

So relatively speaking the cost of living and the cost of Hungarian properties today are still very inexpensive and even allowing for inflation, due to a strengthening Pound over the intervening years, it is as cheap to live in Hungary today as it was 9 years ago.

To counter any erosion in purchasing power it is quite reassuring to know that property prices in Hungary continue to grow at 14% per annum – the fastest growth across the EU http://dailynewshungary.com/hungarian-property-prices-continue-surge/

 

Human Rights and Deportation

Could expats be deported by other EU members ?

Almost certainly not. First, there are numerous political reasons for EU states not to do such a thing, including the treatment of their own nationals living in the UK.

Mass expulsions of citizens from another developed economy would startle foreign investors and potentially cause economic turmoil in the expelling country.

Expats would also enjoy significant legal protection – “acquired rights” under international law based on the Vienna Convention of 1969, which says that the termination of a treaty “ does not affect any right, obligation or legal situation of the parties created through the execution of the treaty prior to its termination”

So expats who have already exercised their right to live in EU states can expect to keep that right after Brexit.

After Britain has formally left the EU the ex pats ability to live and work in EU nations will depend on new agreements the UK government negotiated with these nations

Hungary has a very liberal policy when it comes to foreigners owning property in Hungary. At this point in time many properties are owned by non EU nationals in particular Swiss families many of whom live permanently in Hungary. There is nothing to suspect British families will be precluded from owning a property and living permanently in Hungary. Overseas owners and visitors bring valuable income to Hungary

It is very unlikely Hungary or any other EU country would introduce Visas for British visitors – the tourist business is far too important to introduce unnecessary barriers in place. The Brits are known as enthusiastic travellers with 58% of all Brits travelling abroad each year. In any case Brits are considered low risk from a security point of view and having a British passport allows easy passage throughout the world.

Residency and ability to work

Currently it is a very simple process to apply for Hungarian residency if you are from another EU member state. ( I have available a single page document giving owners a step by step guide – this can be made available as necessary )

For non EU nationals the process is well defined and involves a few more forms to be completed. The authorities need satisfying are the reasons for residency and the ability of the applicant to be able to sustain themselves without having to rely on the state. Please check out this link

https://www.angloinfo.com/budapest/how-to/page/budapest-moving-residency-residency-non-eu

Regarding UK nationals wanting to work in Hungary. Most expats looking to buy a holiday home in Hungary have little or no desire to work in Hungary so the discussions likely to take place over the 2 year period exit period will be of little consequence. It has to be said there will be far more Hungarians seeking work in the UK where wages are higher than there are Brits wanting to work in Hungary with wages around £125 / wk)

Trade

It should be noted the UK buys more from the EU than the EU countries buy from the UK so it could be argued the UK is in a stronger position to negotiate future trade deals.

The situation regarding Hungary is different – The UK ranks as the 7th largest investor to Hungary with exports worth £16 billion per annum – 8.2% of total Hungarian imports. In contrast the UK imports just £2.8 billion of goods from Hungary. Hungary relies heavily on UK technology something it would be keen to protect going forward.

Pensions

At present, anyone who retires within the EU, has their state pension increased every year under the “triple-lock” system. This means that pensions rise by the higher of wage or price inflation, subject to a minimum of 2.5 % – The UK government would have to negotiate individual reciprocal agreements with EU countries if annual state pension increases for expats were to continue.

Expats who still have a residence in the UK will be unaffected as their state pension will be paid in the UK. Similarly private pension payments will be unaffected if a recipient lives in a EU country or not

Taxes

Double tax treaties that Britain has agreed with EU countries ( including Hungary )will remain unaffected. This is because the agreements to ensure people aren’t taxed twice on the same money are made individually with each country.

Hungary is unlike some other EU countries like France who have tougher tax laws for non EU citizens. Capital Gains Tax in France is a punitive 49%. In Hungary the rules are the same irrespective of nationality and much lower. There is no Capital Gains Tax to pay on any profit generated from a property sale providing the property is held for longer than 5 years.

 

Mortgages

British borrowers may find it more difficult to obtain a Hungarian mortgage in the future. As property prices in Hungary are the 5th lowest in Europe most property buyers use existing savings to buy their holiday home so it is likely to have little or no impact

 

Mobile phone costs

Mobile phone roaming charges have been reduced over the last few years and any premiums are set to disappear altogether in 2017. The UK benefits from being part of the Zone 1 area with charges capped at 4p / min for calls and 2p for text messages with data at 4p / Mb.

So would Brexit mean phone costs increase ?

Very unlikely as other non EU members form part of the Zone 1 area eg Iceland and Norway

Feel Good Factor

My summary of the situation is as follows :-

It could be argued the recent Brexit vote disappointed 48% of the UK voting population disillusioned they will be no longer part of the EU in future. Worried they will no longer be able to enjoy Europe

Similarly many of the 52% who voted to exit are disappointed with their deteriorating life in the UK – immigration out of control, too much pressure on the NHS, traffic congestion, abuse of the system and generally feeling hard done to by politicians. Many voted as a protest against “a not fit for purpose” EU organisation and being governed by unelected politicians from overseas – in particular Merkel, Hollande, Tusk and Juncker who along with other EU heads of state have failed to deal with the Greek crises and bundled the Syrian refugee problem

So it could be argued there are many millions of British people, both for and against EU membership who are currently feeling unhappy with their lives in the UK. One thing is certain things will be slow to change – if at all and I do fear many of the voters especially those who voted to leave the EU expecting a miracle cure will end up feeling bitterly disappointed once more.

There is no point complaining and making yourself unhappy – the vast majority of Politicians the world over are only interested in themselves – Fact !!! – there is only person who can change their quality of life and that is yourself. Relying on a politician to do this for you is foolhardy. You have to be the catalyst !

Whatever you voted for in the recent Brexit referendum and irrespective of your political views one thing is for certain the quality of life in Hungary far surpasses that which is on offer in the UK. – why not come and see for yourself and make a decision which will ensure your life is enhanced ?

 

For further reading please check out the following article from the Place in the Sun magazine :-

https://www.aplaceinthesun.com/articles/2016/09/

regards
Steve

Disclaimer
This information is provided as a general guide and is based upon information researched at the time of compilation and may be subject to change at any time with little or no notice. I will not be liable for any inaccuracies in this information

Hungary’s fifth Michelin star goes to Costes Downtown

Smoked duck breast, orange and capers

Smoked duck breast, orange and capers

March was definitely a good month for Hungary: a 5th restaurant was awarded a Michelin star!
Costes Downtown was opened just over 6 months ago and  is located in the elegant Prestige Hotel. The first restaurant to receive a Michelin star in Hungary in 2010 was it’s sister, also called Costes!
Costes Downtown offers 
breakfast, lunch and dinner from 6.30am until midnight and the cuisine is based on international dishes with a Hungarian twist. 
Address: 1051 Vigyazo Ferenc u. 5 Phone: +3619201015
Other Michelin star awarded restaurants in Hungary:
Costes: 1092 Budapest, Ráday utca 4. Phone +36 1 2190696

Onyx: 1051 Budapest Vörösmarty tér 7-8, Phone:+36 30508-0622

Borkonyha: 1051 Budapest, Sas utca 3. Phone:+36 1 266 0835

Tanti: 1124 budapest, Apor Vilmos tér 11-12. Phone:+36 20 243 1565

 
Photo source: Costes Downtown Facebook page

Hungarian film “Son of Saul” wins Oscar

Did you stay up to watch the Oscars? Many Hungarians did: a Hungarian film “Son of Saul” was nominated and a little country like Hungary doesn’t get that very often. The film has already received numerous awards including the Golden Globe Award and the Grand Prix at Cannes. Many hoped that it could win the Academy Awards too. The last time a Hungarian film won an Oscar was 34 years ago, it was in 1981 that Istvan Szabo’s Mephisto won.

Son of Saul is not a lighthearted comedy; set in a Nazi death camp it follows a struggle of Saul portrayed by Géza Röhrig whose only mission is securing a proper Jewish burial for his son.
Read more about the film:

Review in The Guardian.

Review in The New York Times.

Interview with the main actor Géza Röhrig in  The Guardian.

 

 

Renovating a property

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Many of us dream about living in self built home just like this couple (who chose to stay anonymous) did. In the UK they found it difficult to find the right property / plot and when they did the prices quoted were far too expensive. The high cost of labour and materials in the UK frustrated them even further. They decided to buy a camper van instead and as retirement approached they were considering touring Europe.
Here is a blog from her……
‘What a difference a day makes’ or so the saying goes!  And that is exactly what happened for us in February 2013 when we visited the Caravan and Motorhome  show at the NEC in Birmingham.  That was when we first met Steve Davies. We were looking for a Stand which sold televisions for our camper van when we ‘stumbled by accident’ across a stand which was promoting plots of land & properties for sale around Lake Balaton Hungary.  My husband and I had no intention what so ever of buying a house in Hungary, or planning a trip there in the near future but were intrigued so decided to check the stand out!  
Steve the man on the stand casually talked about properties around Lake Balaton and Hungary and about it being a perfect base to travel from and it being “Europe’s Hidden Jewel” with no hard sell or persuasion to buy.  The offer of Bed and Breakfast for 3 nights and one evening meal on their Viewing Trip for just £69 sounded appealing and an ideal opportunity to visit a country that we had never thought of before.  So, without hesitation, we agreed to go!    
We booked our flights for August 2013 because we had already got other commitments for the months in between.  However in the meantime, Steve invited us to meet with other Yorkshire based Hungarian property owners in March 2013 at a venue close to the motorway, which was a thoughtful consideration for those travelling a distance.  I did say to my husband that we should go because it will give us another insight as to who are the type of people who are buying out there and if it really is for us!  The meeting went well and we were introduced to some lovely people, who were all keen to say how pleased they were with buying property in Hungary.  
And so …….
In August 2013 we spent 3 very busy days/nights in Hungary, viewing plots and properties around Lake Balaton, taking into consideration the amount we wanted to spend initially and how much land we wanted with the house.  People from the estate agents, were more than happy to take us to wherever we wanted to go and to look at however many properties we wanted to.  When we first decided to go and check things out we had already decided to extend our time there by 3 more days so we could have a look around the area and the estate agent still continued to look after us with no pressure at all into buying. There were both English and Hungarian staff with us.  We were so impressed by their friendliness and willingness, to support us during our visit. The fact that at no point during our stay did we feel pressured at all, was so reassuring.    
During our visit in August, it was explained that property prices and plot prices vary depending on how close they are to the main tourist attraction which is Lake Balaton – situated approx 58 miles south west of Budapest. The nearer the lake the more expensive they are. We looked at about 12 different houses and plots which varied in price, from £12,000 with a few acres of land and a dwelling on it that needed a lot of renovating , to properties that were much closer to Lake Balaton in the region of £55,000+ that didn’t need much doing to them at all. A property with half an acre of land ready to move into with an outbuilding and small vineyard approx 30 mins drive from the main tourist attraction Lake Balaton  could be bought for £30,000.   
We fell in love with a property that was somewhere between the two extremes above –  a single storey house on a third of an acre of land with some outbuildings.  This was our ’dream house’!  We knew if we bought it, there would be a lot of work to be done and more money spent, to make it ‘our vision’ as we would like.  We came away from that trip saying we would think about it, as I was waiting for results of an MRI scan.  Again, there was no pressure whatsoever, to try and make a sale.  All we received from the people we had met was compassion and understanding of our situation and circumstances at that time.
In November 2013 we returned to Siofok near Lake Balaton, Hungary and met with the estate agents, who again looked after us brilliantly throughout our stay.  We bought our ‘dream home’ in a beautiful rural village, on the south side of the lake.  Whilst we were there, we met with the builder and project manager who would work with other tradesmen, on the renovation of our house.  We discussed our ideas with them and within a few weeks we were in touch by email regarding costs, plans and dates for when the work would begin.  
During 2014 we visited Hungary on 3 occasions to see how the work was progressing.  In August 2014 we were able to stay in our beautiful house, which had central heating, running water and a beautiful bathroom.    
All this has been possible because of the support we have had from Steve Davies, the Hungarian staff at the estate agency, an English couple who now live in Hungary and have become valued friends, Julie and Rob, Hazel and Steve and other English Hungarian property owners.  Of course not forgetting our Hungarian project manager Ishty, who without his patience, knowledge, skills of being able to speak and understand English, comprehend my emails and more so my humour, none of this would have even been imaginable!!  Ishty once said to me “Anything is possible” and he is so right!!      
In March 2015, my husband retired and we have spent most of 2015 over in Hungary, using our house as a base to travel to other countries, far and near, as well as take in all the beauty Hungary has to offer with Lake Balaton most definitely  ‘Europe’s Hidden Jewel!   What a difference that day made, when we first met Steve at the NEC, Birmingham!!   
Over the next few pages are some photos we have taken to show how ‘our vision’ has taken shape to become ‘a reality’ and our beautiful ‘dream house’ in such a short time!!!”  
This couple opted to undertake a major renovation project which was custom designed for their particular family’s needs. Having parents, children and grand children also keen to enjoy what Hungary has to offer they decided to renovate outbuildings and create garden areas perfect for outdoor living. Many families make modest changes whilst others do nothing at all. Properties can be found to suite most people’s requirements.
But let the pictures tell you this amazing story:
before:
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under renovation:
IMG_0841
IMG_0842
IMG_0844 IMG_0843
IMG_0845
and finished:
IMG_0853
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Luxury apartments with high rental retuns

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Looking for a brilliant investment opportunity?
We have just added two adjacent luxury apartments to our database in the lakeside town of  Balatonfüred. Balatonfüred is the capital of Lake Balaton attracting thousands of tourist each year and  property prices in the area are increasing even faster than Budapest as no new building land is being made available. There are regular rail and coach connections between Balatonfüred and Budapest and it is home to various festivals and events all year around.
We have four luxury apartments on offer here, which are currently being rented out on a yearly contract for 950 Euro/month ( £725 / month ). Two already have tenants.
At a cost of £73,000 this represents an annual  yield of 11.9%
We have been informed by one owner that last summer (July and August) she rented her apartment out for between 50,000-60,000 HUF/day.( £122 to £146 / day) It was the busiest period by the lake and at other times they receive 30,000-40,000 HUF/day ( £73 to £98 /day ) for 2 persons.
So assuming just 9 weeks are rented out in July and August ( 63 days rental in the peak season ) at the lower rate of  £122/ day this totals £7686 representing an annual yield of 10.5%. The new owners  would still be able to use the apartment throughout the rest of the year – as you may know Balatonfured is beautiful all year long but particularly so from April through to the end of October.
To read more about these apartments please follow this link to our database.
To learn more about Balatonfüred watch these videos:

or this one:

Aerial video of Lake Balaton in winter

Lake Balaton is amazing all year around, if you never saw it in the winter then after watching this short film you will be booking your tickets!

Frozen Balaton from Flying Camera on Vimeo.

Flights to Hungary in 2016

planes

A total of 204 flights per week into this region

 

Airport

Operator

Flights

Destination

Luton Wizz 5 flights per day Budapest
Ryanair Mon,Wed,Fri & Sun Bratislava
Gatwick Easyjet 10 per week Budapest
Easyjet 13 flights per wk Vienna
Norwegian Mon Tues Thur Fri Sun Budapest
British Airways Daily Vienna
Heathrow British Airways 3 per day Budapest
British Airways 5 per day Vienna
Manchester Jet2 Mon Thurs Fri Sun Budapest
Ryanair Tues Thurs Sat & Sun Budapest
Leeds Brad Jet2 Mon & Fri Budapest
Edinburgh Jet2 Mon Thurs Fri & Sun Budapest
Ryanair Wed & Sun Bratislava
Birmingham Ryanair Tue, Thurs & Sat Bratislava
Wizz Air Wed & Sun Budapest
East Mids Jet2 Thurs & Sun Budapest
Stansted Ryanair 14 flights per wk Bratislava
Ryanair 21 flights per wk Budapest
Bristol Ryanair Tue, Thurs & Sat Budapest
Dublin Ryanair 9 flights per wk Budapest
Aer Lingus Mon, Wed, Fri & Sun Budapest
Glasgow Wizz Air Mon & Fri Budapest
Liverpool Ryanair Tue, Thurs & Sat Bratislava
Wizz Air Wed & Sun Budapest

 

Flight schedules can change so please check on line for up to date information. Correct as of Jan’16

www.wizzair.com
www.easyjet.com
www.ryanair.com
www.britishairways.com
www.jet2.com
www.aerlingus.com
www.norwegian.com/uk
www.aerlingus.com

 

 

 

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