The new government decree No. 251/2014 (X. 2.) on the acquisition by foreign nationals of real estate other than land used for agricultural or forestry purposes (“Decree”) effective as of October 3, 2014 imposes stricter rules on acquisition of non-agricultural and non-forestry real property (“Real Property”) by foreigners than those set forth in the previous government decree [No. 7/1996 (I. 18.)] set aside by the Decree.
Should you have any questions regarding the above please contact Ákos Erős and Csaba Vári.
For more information see our (PDF) publication online.