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Just saying that it is not always the case that buying property for investment overseas is a bad idea. I posted here nearly 20 years ago with advice on how to do it with caution and through proper research in Budapest - and I was proven right. There are probably good investment opportunities at...

Not always though - anyone who researched the market properly and bought investment property in Budapest, Hungary 10-20 years ago and held on, is likely to be quite happy with the decision at the moment. The discussions back then on AAM would have been very helpful (in hindsight)!

This shows the massive influence AAM had though on this issue - and you undoubtedly helped save many many other 'investors' from falling into this trap with the discussion that was permitted here.

Horrific stories in this episode. Did not realise the full extent of some cases. Bulgaria and its corruption comes out of this particularly badly. However, they did gloss over the fact that a major global recession took place a couple of years after most of this happened though.

Absolutely. Agree with that. Budapest was one of the first places though that Irish overseas investors looked at in the boomy years. The whole Sunny Beach/Cape Verde thing never made any sense!

It does bring back memories of 15 years ago when the madness was in full swing. And while there were obviously lies and corruption, for many investors, I think had common sense been used they would have probably found good overseas investment opportunities. With investments we often hear about...

Glad to hear. DH are the main agency there. Yes, commissions are higher for sure.

What districts are they in? He has probably done quite well in that time frame.

Thanks, galway_blow_in. Is anyone else selling at the moment in any central district?

Which street is flat in, Minogue?

Late to this but that sounds normal. Did sale go through? Anyone else selling in Budapest at moment?

Whitecastle1, I think you'll find that cheques are not used in pretty much 99% of the world - and will probably be gone here very soon too. Yes, there are a lot of unscrupulous management companies in Budapest, but a lot of what you describe honestly does not appear to be so unreasonable to...

You can potentially be pursued if you sell at a value lower than 'market value'. However, market value can be relatively low nowadays. Bear in mind too that if the value is too low, you may have a much higher CGT tax bill in the future - assuming of course that you stay in Ireland and...

Unfortunately there was no need to set up a company to buy the property - particularly if you had no plans to buy any more (in which case, it might make sense in terms of expenses, etc.). You would need to sell it from the company to you and your wife as private people which would mean paying...

Yes, that's reasonable. 1% + VAT is the norm.

Don't know what my own ends would be. Like FinOR (I imagine), we're only interested in investing well and generating decent returns. Very possible in Budapest with the right property, as I and many others have found out. Unfortunately lots of Irish people have had bad experiences with...

I agree. Sounds like the advice I posted here around seven years ago :)

Because your company earned the income, only the company paid tax on it. If you transfer 6,000 EUR to your personal account then you need to either: 1. Consider it as new personal income, which is taxable - your company's tax bill has no connection to your's. 2. Consider it as a...

You're right about Hungary not adjusting well to capitalism. I don't think the Czech Republic or Poland are much better though. The hangover of communism will last for generations to come. Mindsets are utterly different here than in Ireland or the UK. There is no shortage of jobs for those...

Best of luck, FinOR! Sounds like you know what you're doing. Some Irish investors didn't do a great job in Budapest and a minority are choosing to sell at a loss. Most purchased either the wrong apartment or at the wrong price - or a combination of both. However, Budapest is a decent city...