Analysis

CSOK Plus and the Hungarian real estate market in 2024

CSOK Plus, the 2024 edition of the Hungarian family housing allowance and prenatal loan program is giving a new boost to the local real estate market. Read on for a summary on the program and its latest impact.

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Forecast coming up about Hungarian economy in 2024

The next few weeks will be quite eventful regarding forming expectations about Hungarian economy in 2024. Key personalities are giving speeches at current events, and statistical data is also expected soon.

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US-Hungarian double taxation treaty canceled – what to watch out for?

The agreement remained in force until 31 December 2023, but now it is not applicable anymore. In response, Hungary has introduced some changes to tax regulations to mitigate the impact.

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Existing and upcoming investment residency options in Hungary

Last week a new golden visa program was announced in Hungary, going live in 2024 (exact date not known yet). However, Hungarian residency is already available based on real estate investment. Should you wait for the new program, or should you act now? Read on to find out.

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Wine products no longer subject to representation tax in Hungary

Starting from the middle of November 2023, wine products sold by vineyards will be exempt from representation tax in Hungary. The decision is expected to give a boost to the wine sector at the end of the year.

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Apply for the Hungarian family housing allowance before it is reduced

CSOK, the Hungarian family housing allowance was created to support families in finding a home. Young married couples who pledge to have children are eligible for a non-refundable allowance and favorable interest rates for property purchase. Now it seems the conditions for eligibility will be severely reduced starting from 2024.

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Tax benefits for government securities in Hungary

When you have income from interests, normally you pay personal income tax and social security contribution on those. However, if you invest in Hungarian government securities, you may not be required to pay either of those.

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Expected yearly average inflation in Hungary in 2023

Based on data from 2022 and H1 2023, analysts expect yearly inflation in Hungary to be reduced below 10% by December. Even in the worst case scenario, the yearly average inflation in 2023 will not be higher than 19%.

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2024 changes to taxes in Hungary

Last week the 2024 changes to taxes in Hungary were announced. While the package a number of tax increases to counter inflation, most taxes directly relevant to doing business, such as corporate tax and payroll taxes remain the same. Read on to see what’s new.

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