Hungary removes real estate option from Golden Visa program
Hungary has announced significant changes to its Golden Visa program, removing the real estate investment option set to take effect on January 1, 2025. This decision represents a noteworthy shift in the country’s strategy for attracting foreign investment through residency schemes.
Previously, foreign investors could secure residency by purchasing qualifying real estate in Hungary, making the program an appealing choice for those looking to establish a presence in Europe. Although, the Hungarian government’s recent move to eliminate this pathway could reflect changing economic priorities or concerns regarding the dynamics of the real estate market.
The discontinuation of the real estate investment option is expected to have a considerable impact on both foreign investors and the local property market. For investors, this change limits the available avenues for obtaining Hungarian residency, which may lead them to consider other countries with similar residency programs or to explore alternative investment opportunities within Hungary.
Domestically, this policy adjustment could reduce demand in the real estate sector, particularly for high-value properties that have been favoured by foreign buyers.
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