December 24, 2024 - 15:56
Hungary has joined the ranks of European nations opting to remove the real estate investment pathway from its Golden Visa Program, following in the footsteps of Portugal. This significant policy shift means that affluent foreigners will no longer have the opportunity to secure residency in Hungary by investing a minimum of €500,000 in real estate.
The recent changes were officially documented in the Hungarian Gazette, marking a pivotal moment for the country's immigration and investment landscape. This decision reflects a broader trend among European countries reassessing their residency-by-investment schemes, often aimed at curbing rising property prices and addressing housing shortages.
Critics of the program's previous structure argued that it contributed to inflated real estate values, making housing less accessible for local citizens. By eliminating this option, Hungary aims to redirect its focus towards other forms of investment that may better serve the local economy and community needs. The implications of this decision will likely resonate throughout the region as other countries evaluate their own investment programs.
