For the purchase of real estate or land (of any type, except arable), a private person needs a permit from the district council of the local municipality or the Administrative Office, in the case of Budapest. The period required for obtaining a permit ranges from 2 to 3 months.

At the same time, legal entities registered in Hungary are exempted from obtaining a permit. Therefore, it is common to buy property using a company. The term of renewal is 1 - 2 days, all costs can be charged to costs.

The costs of a real estate transaction are:

• real estate transfer tax is 2.00% - 4.00%, depends on the value and type of real estate (2% for residential real estate worth less than 13,000 euro and for other types of real estate — more than 3,330,000 euros; the tax is calculated on the basis of from the excess of the specified amount) - paid by the buyer,
• transfer tax is replaced by payment of 27% VAT for residential property sold for the first time,
• legal services amount to about 1% - 3% (+ 27% VAT) of the cost of housing - paid by the buyer,
• registration fees are 0.01% - 0.05% - paid by the buyer,
• agency commission is 3% - 5% (+ 27% VAT) - paid by the seller.

When acquiring a business in Hungary, the parties follow the current charters of the companies. It is highly recommended to involve qualified auditors in order to determine the real financial condition of firms.