steve270468

Hello everybody not sure if this is the right place to post but I've got lots of questions about moving to hungary .
Firstly I,m looking to invest in some rental properties, anybody else doing this?. Will be renting initially while looking for a place to buy for ourselves, whats the best option, buy already renovated,buy in need of renovation and do it myself and use contractors for the big jobs or build from scratch.
Cars anything I need to know about buying and registering as a foreigner and why are they so expensive over there.
Business anybody running their own would like some advice on this.
I think that's enough to be going on with look forward to reading your answers.
Steve

SteveandGalina

Hi

First question must be what area are you looking at? If you are wanting to 'invest' in some rental properties then presumably you will want all year round rental and therefore it would seem that Budapest is your only option.

Most places around Lake Balaton are great for rental during the summer season - June to September but there's probably not much outside of that apart from Easter or Christmas.

So prices in Budapest area lot more expensive than elsewhere.

Yesterday I saw an absolutely fantastic new house for sale for around 135k euros but this was near the Western end of Lake Balaton - and this price is quite expensive compared to other houses available but this was special. I was advised that a good two bedroomed apartment in Budapest (in a good area) will cost around 200k euros so you can see the difference.

So I think we all need a little bit more detail before we can offer advice.

Regards

Steve

steve270468

Hi thanks for replying.
Were looking for properties in and around Kecskemet as my wifes family are from that area, three or four flats to rent out in town and a house in the country for ourselves.
I know that most people on this thread are around balaton and budapest but couldn't find any other forums with british people living in hungary (if any body knows of any please tell).

ChrisHunts

Steve,

when will you be moving?

chris

steve270468

Hi
Probably be moving towards the end of 2010 possibly sooner. Have decided to buy a ready built house as planning permisions ect look to be a nightmare. As for cars importing is a non starter because of huge registration fees.
Now all I need to do is decide on employment or starting my own business.
Steve

ticmic

Hi Steve,

My wife and I moved to Lajosmizse (about 15Kms north of Kecskemet) 30 months ago. If you need to ask any questions please feel free to contact me (SNIP)

A word of warning though, Mercedes Benz are building a new factory in K'Met and the house prices will be going up regardless of the dire straits of the Hungarian economy.

cheers
Nigel

steve270468

Hi
Thanks for the reply.
Will be house hunting in march hopefully, I already know about MB coming to town do you know which part of town the factory will be in?
Also I have heard that a lot of houses are being reposessed are these sold at auction like in the uk?
Thanks
Maybe meet up in march for a drink if you like.
Steve

ticmic

MB's factory is on the south side of Kecskemet on the old route 5.

Not sure about auctions, but I will ask my Hungarian friends, regarding meeting up not a problem.
cheers
Nigel

steve270468

Hi
Thanks for the fast reply, looks like i'm not the only one not working today.
Steve

ticmic

Hi Steve, I took early retirement at 49, sold up and buggered off.

What kind of business are you thinking of possibly starting?
nigel

steve270468

Hi
Not in a position to retire yet, only 42. As for business got a couple of ideas nothing firm as yet.
Steve

court

I'd be careful, Steve. Opening a business in Hungary is something of a mess, especially if you don't speak Hungarian. It's a difficult and time-consuming process, one of which involves a lot of strange legalities and loopholes that'll make your head go wonky. It's not nearly as simple as "I want to do it". You'll also want to evaluate what you want to do and if it is viable in the market.

We're pretty full up on expat bars (where the prices are quite a bit higher than the standard Hungarian bar -- with Legends, which is absolutely horrible in my opinion, near the hotels, and then Becketts, Guinness House, and the Caledonia all in the same radius [city centre on Pest side], which is where all the tourists will predominantly be) and the specialty shoppes do well, but there isn't such a demand for them. It's really been sad watching quite a few businesses fail. I'm rooting for my Irish businessman of a friend to succeed with his new Irish bar!

If you have any questions about the process to open a business - even just generally on how to do it and what it involves - just let me know and I'll give you all the info. Maybe that could help!

Best,
Court

ticmic

Steve, no knowing your background and what your current profession is, I would agree with Court, although you are looking at living in Kecskemet and not Budapest, I have been considering opening a German Schnell Imbiss (fast food) outlet (as a hobby, more than a going concern), to cater for the influx of Germans when they arrive, although currently there are only about 90 German families due to be relocated, its a type of business that is few and far between outside of Budapest.

Kecskemet does however get quite alot of tourists, once again it epends on what your skill sets are.

steve270468

Hi
Thanks a lot, looked into bars years ago when things were probably a little less civilized and decided against it. Currently looking at importing second hand goods from around europe, when I say business not looking for anything big just enough to be comfortable and pay the bills (maybe have a nice porsche).
Thanks
Steve

steve270468

Hi
WooHoo a shnelly.
Grosse bratwurst mit pommes bitte.
As for experience, ex Army,worked in factories, bit of wheeler dealing and last three years working as a baillif for HMCS.
Thanks
Steve