Hungarian real estate is becoming more and more popular with foreign investors, it has been revealed.
According to origo.hu, Chinese investors have taken over Russians when it comes to buying real estate in Hungary. Results show that every fifth real estate purchase in Budapest is made by a foreigner.
During 2016, more than 1,200 Chinese citizens purchased apartments, holiday homes or other kinds of buildings in Hungary. Russian buyers were 446 and Ukrainians 231.
In total, 3,163 foreigners have purchased 2,929 properties in Hungary, which means that the previous three countries have participated in 60 percent of the transactions.
In Hungary, 6-7 percent of the purchases are made by foreigners, around 15-20 percent in Budapest, although there are differences between districts.
Budapest is the most popular with foreigners, who are interested in apartments in the downtown area and the family houses in the inner districts of Buda.
According to the report, the presence of foreign investors has not yet caused a rise in prices that would make them too high for Hungarians.