highlandmike

Hello, I'm new here.
I have a question regarding property ownership in Hungary, specifically Szeged actually. I am planning to buy an apartment and whilst searching online there are a number of adverts alluding to 'rent right sale', where the property is for sale but it appears the outright 'ownership' is something different, sometimes available at an additional cost. Can anyone shed light on this please? perhaps it is a form of leasehold although I was under the impression that Hungary operates only a freehold market?

Thanks in advance, Highlandmike.

Peter_in_Hungary

I've not heard of this before, what was the Hungarian term used to define the process.
By the way property regulations are national not regional so anything that applies in Szeged will apply nationally and of course the other way around.

highlandmike

Thanks Peter for your response. Below is a quote lifted from an estate agent's website description:

'Szeged Belvárosban Központi helyen, 93 nm es 1. emeleti, 2 szobás Lakás Bérleti Joga ELADÓ!'

I am using google translate so maybe my confusion is arising from this. My Hungarian language skills don't stretch very far unfortunately.

highlandmike

Here is another description in Hungarian (below) which mentions both 'lease rights' and 'ownership' rights:

1960 -as években épült a Tisza Lajos körút és a Dugonics tér szomszédságában, egy polgári lakás, zárt

udvari parkolási lehetőséggel, magasföldszinten, a bérleti joga eladó,a tulajdon jog is megvásárolható!

Szeged

It means illegally renting from the council (Government)!

Example Scenario:

I have an apartment I am legally renting from the council (government). All is well. However, as I have ten kids to feed and times are hard I say to you, give me 4 million forints and the place is yours. You can put the bills in your name etc but you (after paying me the 4 million forints) will be the one to pay the council their rent each week. It is like illegally renting a flat, but in this case the corrupt government know of this illegal practise but ignores it because they need a weekly rent.

In the UK this could not happen because if you give up your council flat, they like to putting it on their bidding-process list or give it to someone "supposedly deserving of it". I.e. you need to be on the council's waiting list.

As said, in Hungary this is a tolerated illegal practice, but as long as someone is paying the rent.....

If you are lucky, the council might then allow you to "Right to Buy" or "Rent To Buy", but I wouldn't get my hopes up. As a "foreigner" you do not normally get offered a mortgage anyway. I would steer clear of this whole thing even if I was a Hungarian.

highlandmike

Thank you so much Szeged - this clears it up for me. You have saved me a lot of time. These prices did seem too good to be true.

fidobsa

I suppose ten foot barge poles are not available in Hungary but they might have a metric equivalent!

scrubbedexpat142

I think there's a Gyulas stirrer equivalent!