According to data from the Hungarian Central Statistical Office (KSH), Hungarian housing market saw a surge of 22.8% (11% inflation-adjusted) in Q2 2022, the highest annual price growth recorded in recent history.
The demand for homes has also risen after a decline in 2019-20, with the total number of second-hand homes sold increasing by 13.8% in 2021. Meanwhile, foreign demand has recovered due to the weakening of the forint against the euro.
Regional Price Trends
Pest, the eastern part of Budapest, had the highest y-o-y increase of 33.7%, followed by Northern Great Plain, Northern Hungary, Southern Great Plain, Central Transdanubia, Southern Transdanubia, and Western Transdanubia. Budapest saw a more modest increase of 9.7% in the mean price of second-hand homes y-o-y.
Local House Price Variations
Budapest and Pest have the most expensive housing, with the average price of second-hand homes reaching HUF 39.7 million (€93,491) in 2021. Meanwhile, the Great Plain and North regions have the least expensive housing, with the average price standing at around HUF 11.7 million (€27,553) and HUF 14.3 million (€33,676), respectively.
Mean price per sqm by region and settlement type, source: KSH
Average Home Prices
In Q1 2021, the average price of new homes was HUF 45.6 million (€107,862), while second-hand homes averaged HUF 22.8 million (€53,931).
Hungarian Housing Market – trends in housing prices, source: KSH
Rising Demand
The demand for second-hand homes has bounced back strongly, with an annual increase of 13.8% in 2021. This is a significant improvement from declines of 14.3% in 2020 and 5.7% in 2019. Foreign demand is also on the rise due to the weakening of the forint against the euro.
Hungarian housing market continues to rise, with an increasing number of people looking to purchase homes, particularly in Budapest.
The number of second-hand homes sold rose by 13.8% to 142,138 units in 2021 from a year earlier, a significant improvement from annual declines in 2020 and 2019. Second-hand home sales increased in Central Hungary and Transdanubia by 12.8% and 15.6% year-on-year, respectively. In contrast, sales in Pest decreased by 25.4% in 2021.
Source: KSH
Hungarian Housing Market: Weak Construction but Improving Demand
Despite a robust overall economy, Hungary’s residential construction activity remains weak. In the first half of 2021, housing completions fell by 6.8% year-on-year to 9,133 units, with a 16.8% drop in Central Hungary and a 1.9% drop in Great Plain and North. Newly built homes increased 21.6% year-on-year in Transdanubia.
Foreign Buyers Rising Again
In the first half of 2022, the number of foreigners interested in Hungarian residential properties rose by 10%, partly due to weakening domestic currency against the euro. The high concentration of foreign homebuyers in Budapest is one of the main reasons for the huge price difference between the city and the rest of the country, with foreigners spending on average over HUF 40 million (€94,195) on a home in Budapest.
Foreign Homebuyers in Hungary: Popular Locations and Legal Requirements
Hungary has been a popular destination for foreign property buyers in recent years, with Budapest being the most favored location. In fact, more than half of foreign property demand is in Budapest. District 7, 6, and 8 are the top three districts preferred by foreign homebuyers. Moreover, towns and villages in the counties around Lake Balaton also represent about 11% of foreign demand.
However, the Covid-19 pandemic has negatively impacted the foreign property market in Hungary. Home purchases by foreigners have significantly dropped due to travel restrictions. Before the pandemic, foreign homebuyers were on the rise.
From 2017 to 2019, the number of purchases increased from 3,207 to 3,753. Chinese citizens accounted for more than half of the total, followed by EU citizens, primarily Germans. Other large groups of buyers were Israelis, Russians, and Turks.
Hungarian law requires that real estate purchases be concluded through private contracts countersigned by a lawyer. Non-Hungarian citizens must obtain approval from the relevant Administrative Office to purchase property as a private person. The process usually takes 2-3 months.
To avoid this approval process, most lawyers advise foreign nationals to set up a company registered in Hungary to purchase property. This process takes only 1-2 days, and all expenses can be written off.
In conclusion, Hungary is a popular destination for foreign property buyers, particularly in Budapest and towns/villages around Lake Balaton. However, purchasing property in Hungary as a foreigner requires following legal requirements, and it is advisable to consult a lawyer for guidance.
Hungary’s Housing Cycle: From Crisis to Recovery
The Hungarian housing market has experienced a tumultuous cycle from crisis to recovery, with government measures playing a significant role in boosting demand. The COVID-19 pandemic has had an impact on the housing market, but it has quickly bounced back in 2021. As Hungary continues to recover, the housing market is likely to see further growth in the coming years.
The Hungarian housing market suffered a severe decline from 2008 to 2013, with house prices falling by 21% (36% inflation-adjusted) as a result of the 2009 global financial crisis and the forint’s steep decline that caused the mortgage market to collapse.
However, legislation in November 2014 required financial institutions to convert all outstanding foreign currency-denominated loans into HUF by December 2015, causing a sharp decrease in the stock of housing loans in foreign currency. House prices began to rise by 6.6% (7.3% inflation-adjusted) in 2014, and have been increasing annually by double-digits, surging by a total of 120% (99% inflation-adjusted) in 2014-19.
COVID-19 Impact on the Hungarian Housing Market
The housing market’s growth decelerated to 6.8% (3.9% inflation-adjusted) in 2020 due to the economic repercussions brought by the COVID-19 pandemic, the ensuing lockdown measures, and travel restrictions. However, the Hungarian housing market bounced back quickly in 2021, registering a house price increase of 21.4% (13.4% inflation-adjusted), as economic conditions gradually improve.
Government Measures Boost Demand
Part of the housing demand recovery during 2014-5 was due to other government measures. In 2013, the government increased the amount of 5-year loan subsidies, the maximum value of subsidized loans, and the loan house price threshold, resulting in significantly stronger credit demand in the second half of 2013.
In 2015, a non-refundable subsidy, the family housing allowance (CSOK), became available for buying new- and used homes, apartment expansions, and home construction. The program was expanded in 2018, allowing families returning from abroad and those owning a property to apply for the CSOK.
By end-2021, almost 192,000 families had benefited from the program, receiving a total of HUF 467.4 billion (€1.1 billion). Furthermore, every woman under the age of 40 is eligible for a CSOK interest-free loan when she first gets married. The government also repays HUF 1 million (€2,355) of mortgage loans for families with at least two children.
Celebrating Excellence: Inter Relocation’s 3rd Nomination for the Prestigious Cartus Masters Cup Award
NewsAt Inter Relocation, it is with immense joy and honour that we share the news of our third consecutive nomination for the esteemed Cartus Masters Cup Award at the 2023 Global Network Conference.
This prestigious recognition, presented annually by Cartus Corporation, celebrates outstanding service and exceptional performance within its esteemed Global Network. As a leading provider of relocation services, this nomination stands as a testament to Inter Relocation’s unwavering commitment to excellence and the exceptional support we provide to our clients throughout their relocation journey.
We’re celebrating our our third consecutive nomination for the Cartus Masters Cup Award
The Cartus Global Network Conference:
The 2023 Cartus Global Network Conference, taking place from September 20-21, 2023, brings together a dynamic and innovative community of industry-leading worldwide service providers. Representing 175 countries from around the globe, this event fosters collaboration, encourages innovation, and shares best practices to elevate service delivery for Cartus clients and their relocating employees.
This year’s theme, “Where Mobility Meets Agility,” embodies the compassionate and agile approach that Cartus supplier partners, including Inter Relocation, take in helping relocating employees navigate the evolving mobility landscape.
Inter Relocation and the Cartus Masters Cup Award:
Our nomination for the Cartus Masters Cup Award lies in the category of Home-related Services. This esteemed award is reserved for Global Network members who consistently achieve exceptional standards of quality and service excellence.
As a nominee, Inter Relocation must showcase:
Inter Relocation’s Remarkable Service:
At Inter Relocation, we are dedicated to providing unparalleled relocation services that put our clients’ needs front and center. Our expert team takes pride in delivering personalized assistance, guiding our clients through the entire relocation process seamlessly.
With a deep knowledge of the local market and fast, responsive communication, we keep our clients informed at every step of the way, alleviating any concerns or uncertainties they may have.
A Word from Stuart McAlister, Inter Relocation’s Company Owner:
We extend our heartfelt appreciation to Cartus Corporation and our valued clients for their continued trust and support. With our focus firmly set on delivering personalized, efficient, and high-quality service, we look forward to serving even more clients and making a positive impact in the realm of global mobility.
______________________________________________________________________
About Cartus Corporation:
Cartus Corporation, a global leader in talent mobility, delivers comprehensive corporate relocation services to organizations worldwide. As a subsidiary of Anywhere Real Estate Inc., they serve a diverse clientele, including a significant portion of Fortune 100 companies, delivering proactive, flexible solutions tailored to each client’s unique needs.
For more information, visit cartus.com and anywhere.re.
About Inter Relocation
Founded in March 2002, Inter Relocation began as a Budapest-based provider of relocation and immigration services. With just three staff members initially, we’ve since grown to a team of 20 professionals.
In 2003, we expanded internationally as the Inter Relocation Group, extending our services to Hungary, the Czech Republic, and Poland. Today, we’re proud to have franchise group members in 23 countries across CEE and Central Asia, with our Budapest office as the headquarters.
At Inter Relocation, our unwavering commitment is to deliver award-winning services of the highest quality to our clients, partners, and assignees. We believe in social responsibility, environmental sustainability, and ethical practices, actively promoting diversity, equity, and inclusion.
Founded by Stuart McAlister, a British expat who understands the challenges of relocation firsthand, our personal touch and dedication shape our client-focused approach.
Our dedication to excellence has earned us numerous awards and recognition, making us a trusted partner in the relocation industry. As we celebrate our third nomination for the prestigious Cartus Masters Cup Award, we continue to deliver top-tier service for a seamless relocation experience.
Family Tax Allowance in Hungary for Expatriates
NewsMoving to Hungary or already living here with your family? Explore the benefits of the Family Tax Allowance in Hungary. In collaboration with Horizon Solutions, a trusted tax consulting company, Inter Relocation now offers expert guidance on Hungarian tax rules through our informative blog. Maximize your tax benefits as an expat in Hungary and enhance your family’s relocation experience. Have questions about relocation matters? Contact us today for personalized assistance.
Hungary offers a Family Tax Allowance with dependents, which can also be claimed by expatriates. This tax base allowance reduces the consolidated tax base and can be claimed depending on the number of dependents.
The amount of the tax allowance varies depending on the number of children and can be a significant reduction in taxable income.
Table of Contents
What is the Family Tax Allowance?
The Family Tax Allowance is a tax base allowance that reduces the consolidated tax base, which the beneficiary can claim for dependents depending on the number of dependents per month of entitlement.
The parents can reduce their tax bases after their children while they are attending school. The amount of the family tax allowance in Hungary is based on the number of children, with a higher allowance for more children.
“The parents can reduce their tax bases after their children while they are attending school.”
The amount of the Family Tax Allowance in Hungary is as follows:
1 child: 10,000 HUF (monthly) or 120,000 HUF (€330) per year
2 children: 40,000 HUF (monthly) or 480,000 HUF (€1,300) per year
3 children: 99,000 HUF (monthly) or 1,188,000 HUF (€3,300) per year
How can expatriates claim the Family Tax Allowance in Hungary?
According to the principle of equal treatment, a foreign individual may not be subject to a tax higher than that which the domestic individual has to pay on the same grounds.
A foreign individual may also take advantage of tax-related benefits, including family allowances, if at least 75 percent of their total income is taxed in Hungary and they do not take advantage of the same or similar allowance in another state for the same period.
If the foreign individual complies with the foregoing, the rules on family allowance shall apply mutatis mutandis to child benefit, disability benefit, or disability benefit under the legislation of any foreign state also in the case of another individual (entitled, dependent) entitled to similar benefits.
The children should obtain a TAX ID as well. Via self-revision, the taxpayer can reduce tax for the previous years within the statute of limitations, which is 5 years in Hungary. Horizon Solutions Ltd. can assist you in this matter.
A significant reduction in taxable income
The Family Tax Allowance in Hungary is a significant reduction in taxable income for families with dependents, including expatriates living in Hungary. It is essential to understand the rules and regulations to claim the tax allowance successfully.
If you comply with the requirements, you can benefit from the tax-related benefits that Hungary offers, including the Family Tax Allowance.
Expat in Hungary or thinking about relocating? Inter Relocation is your trusted partner for a seamless, safe, and stress-free relocation. From tenancy management to permits, we’ve got you covered. Do you have any questions or require relocation assistance? Please, contact us right away. Working with Horizon Solutions guarantees skilled tax advice. Visit Horizon Solutions’ website or connect with László Soos and Györgyi Jenei for tax inquiries.
Hungarian Property Market Trends: Rising Rental Yields, Declining Supply, and Impact on Property Prices
NewsLearn about the latest trends in the Hungarian property market, from rising rental yields to a decline in flat supply, and how they affect Hungarian property prices in the second part of a series of articles on the Hungarian housing market.
Rental yields in Budapest are moderately good, with Buda apartments outperforming Pest, and apartment rents are rising again. The main reason for the rent increase is a decrease in rental flat supply.
Despite rising interest rates, the Hungarian housing loan market is expanding, with more people purchasing homes with loans.
Number of housing transactions made by private persons by quarter years – source: KSH
Residential Construction Rise
The Hungarian property market surge has resulted in a sharp increase in residential construction, with almost half of the new supply being in Budapest and Pest. In 2020, the total number of newly built dwellings in Hungary rose 33.5% y-o-y to 28,208 units, despite the pandemic. However, in 2021, newly built dwellings fell by 29.5% y-o-y to 19,898 units due to rising material costs.
Budapest Rental Yields are Moderately Good with Rents Rising Again
The rental yields in Budapest are moderately good with the Hungarian property market rebounding from the decline due to travel restrictions and Airbnb regulations. Gross rental yields in Buda apartments are yielding higher returns than Pest.
The apartment rents in Budapest are on the rise again, particularly due to the decline in the supply of rental apartments.
Higher Yields in Buda, Lower in Pest
According to a Global Property Guide research, apartments in Buda have higher yields ranging from 5.63% for smaller-sized apartments of 90 sq. m. to 5.73% for larger apartments of 120 sq. m. In comparison, apartments in Pest have slightly lower rental yields ranging from 5.16% to 5.24%.
Rising Rents
According to KSH-ingatlan.com rent index analysis, apartment rents in Hungary surged 23.4% YoY by end-Q2 2022, with rents in Budapest increasing 24% YoY over the same period. However, the longer-term data indicate a moderate rise in prices, with average rents rising by almost 66% nationally and 57% in the capital since 2015.
Decline in Rental Apartment Supply
The decline in rental apartment supply is the main reason for the surge in rents. The number of apartments for rent has dropped from 20,000 to just over 10,000, a 49% decline, in the past year, said László Balogh, the leading economic expert of ingatlan.com.
Rent Range in Budapest
The average monthly rents for brick apartments in Budapest range from HUF 125,000 (€294) to HUF 350,000 (€825). Districts 1, 2, 3, 5, 6 and 12 are among the most expensive areas while Districts 4 and 10 and the peripheral districts on the Pest side are the cheapest.
Source: KSH (Hungarian Central Statistical Office)
Interest Rates on the Rise
Despite the increasing interest rates, the Hungarian housing loan market is growing, with more people buying houses with loans. However, the size of the mortgage market remains small compared to GDP.
According to the European Central Bank, housing loan interest rates are beginning to rise, with the average interest rate on housing loans increasing to 4.83% in August 2022 from 4.49% in the previous year. As a result, this may have an impact on Hungarian property market in the near future.
Hungary Interest Rates
The average interest rates on loans for house purchases by initial rate fixation (IRF) in August 2022 were as follows:
Mortgage Market Growing Strongly
The growth of Hungarian property market continues to drive the mortgage market, which is showing strong signs of expansion.
The value of new housing loans disbursed rose significantly by 36.2% to HUF 1.25 trillion (€2.94 billion) in 2021, and the total number of new housing loans disbursed increased 16.7% to 121,347 last year.
New Loans Disbursed
Hungarian property market have witnessed a significant rise in the number of new loans disbursed for buying second-hand homes, which surged by almost 35% y-o-y to HUF 857.8 billion (€2.02 billion), and loans for buying new homes rose strongly by 21.7% to HUF 135.61 billion (€319.4 million) last year.
Loans for housing construction rose slightly by 2.1% to HUF 80.4 billion (€189.3 million) last year, and loans for home renovation almost tripled to HUF 118.72 billion (€279.6 million) in 2021.
Reasons for Increased Loan Demand
Hungary’s relatively low interest rates and subsidized lending schemes, such as the Family Housing Subsidy Scheme (CSOK), have led to increased loan demand. The government’s newly introduced home improvement subsidy has also contributed to this.
Housing Loans Outstanding
The value of housing loans outstanding increased 15% to HUF 4.58 trillion (€10.8 billion) in 2021, and the share of “problem-free” loans slightly declined to 96%. The non-performing exposure ratio also increased to 3.7% last year.
The state of Hungary’s economy
Hungary’s economy has had a strong recovery since the pandemic, registering a real GDP growth rate of 7.1% in 2021, one of the fastest in the EU. In Q2 2022, the economy grew by 6.5% YoY, with all sectors contributing except agriculture.
However, the European Commission’s forecast expects the economy to slow down to 5.2% this year due to rising inflation, tightening fiscal and monetary policies, trade disruptions, and the situation in Ukraine and Russia. These factors may also strongly affect the Hungarian property market.
GDP Growth and Contributing Sectors
Hungary’s Finance Minister noted that Q2 growth was supported by all branches of the economy, particularly industry, trade, tourism, the financial sector, and ICT. Quarter-on-quarter, the economy expanded by 1% in Q2 after growing by 2.1% in the previous quarter.
Forecasted Slowdown in Economic Growth
While Hungary’s economy has been experiencing strong growth, it is expected to slow down due to various factors such as inflation, fiscal and monetary policies, trade disruptions, and uncertainty in Ukraine and Russia. As a result, the growth of the Hungarian property market is also expected to be impacted.
Unemployment and Inflation
Unemployment in Hungary is at a low of 3.4%, and the nationwide inflation rate in August 2022 rose to 15.6%, the highest since May 1998. The surge in inflation was due to a rise in food and other commodity prices, far above the central bank’s target range of 2% to 4%.
An Overview of the Hungarian Housing Market: House Prices Surge by 22.8%
NewsAccording to data from the Hungarian Central Statistical Office (KSH), Hungarian housing market saw a surge of 22.8% (11% inflation-adjusted) in Q2 2022, the highest annual price growth recorded in recent history.
The demand for homes has also risen after a decline in 2019-20, with the total number of second-hand homes sold increasing by 13.8% in 2021. Meanwhile, foreign demand has recovered due to the weakening of the forint against the euro.
Regional Price Trends
Pest, the eastern part of Budapest, had the highest y-o-y increase of 33.7%, followed by Northern Great Plain, Northern Hungary, Southern Great Plain, Central Transdanubia, Southern Transdanubia, and Western Transdanubia. Budapest saw a more modest increase of 9.7% in the mean price of second-hand homes y-o-y.
Local House Price Variations
Budapest and Pest have the most expensive housing, with the average price of second-hand homes reaching HUF 39.7 million (€93,491) in 2021. Meanwhile, the Great Plain and North regions have the least expensive housing, with the average price standing at around HUF 11.7 million (€27,553) and HUF 14.3 million (€33,676), respectively.
Mean price per sqm by region and settlement type, source: KSH
Average Home Prices
In Q1 2021, the average price of new homes was HUF 45.6 million (€107,862), while second-hand homes averaged HUF 22.8 million (€53,931).
Hungarian Housing Market – trends in housing prices, source: KSH
Rising Demand
The demand for second-hand homes has bounced back strongly, with an annual increase of 13.8% in 2021. This is a significant improvement from declines of 14.3% in 2020 and 5.7% in 2019. Foreign demand is also on the rise due to the weakening of the forint against the euro.
Hungarian housing market continues to rise, with an increasing number of people looking to purchase homes, particularly in Budapest.
The number of second-hand homes sold rose by 13.8% to 142,138 units in 2021 from a year earlier, a significant improvement from annual declines in 2020 and 2019. Second-hand home sales increased in Central Hungary and Transdanubia by 12.8% and 15.6% year-on-year, respectively. In contrast, sales in Pest decreased by 25.4% in 2021.
Source: KSH
Hungarian Housing Market: Weak Construction but Improving Demand
Despite a robust overall economy, Hungary’s residential construction activity remains weak. In the first half of 2021, housing completions fell by 6.8% year-on-year to 9,133 units, with a 16.8% drop in Central Hungary and a 1.9% drop in Great Plain and North. Newly built homes increased 21.6% year-on-year in Transdanubia.
Foreign Buyers Rising Again
In the first half of 2022, the number of foreigners interested in Hungarian residential properties rose by 10%, partly due to weakening domestic currency against the euro. The high concentration of foreign homebuyers in Budapest is one of the main reasons for the huge price difference between the city and the rest of the country, with foreigners spending on average over HUF 40 million (€94,195) on a home in Budapest.
Foreign Homebuyers in Hungary: Popular Locations and Legal Requirements
Hungary has been a popular destination for foreign property buyers in recent years, with Budapest being the most favored location. In fact, more than half of foreign property demand is in Budapest. District 7, 6, and 8 are the top three districts preferred by foreign homebuyers. Moreover, towns and villages in the counties around Lake Balaton also represent about 11% of foreign demand.
However, the Covid-19 pandemic has negatively impacted the foreign property market in Hungary. Home purchases by foreigners have significantly dropped due to travel restrictions. Before the pandemic, foreign homebuyers were on the rise.
From 2017 to 2019, the number of purchases increased from 3,207 to 3,753. Chinese citizens accounted for more than half of the total, followed by EU citizens, primarily Germans. Other large groups of buyers were Israelis, Russians, and Turks.
Hungarian law requires that real estate purchases be concluded through private contracts countersigned by a lawyer. Non-Hungarian citizens must obtain approval from the relevant Administrative Office to purchase property as a private person. The process usually takes 2-3 months.
To avoid this approval process, most lawyers advise foreign nationals to set up a company registered in Hungary to purchase property. This process takes only 1-2 days, and all expenses can be written off.
In conclusion, Hungary is a popular destination for foreign property buyers, particularly in Budapest and towns/villages around Lake Balaton. However, purchasing property in Hungary as a foreigner requires following legal requirements, and it is advisable to consult a lawyer for guidance.
Hungary’s Housing Cycle: From Crisis to Recovery
The Hungarian housing market has experienced a tumultuous cycle from crisis to recovery, with government measures playing a significant role in boosting demand. The COVID-19 pandemic has had an impact on the housing market, but it has quickly bounced back in 2021. As Hungary continues to recover, the housing market is likely to see further growth in the coming years.
The Hungarian housing market suffered a severe decline from 2008 to 2013, with house prices falling by 21% (36% inflation-adjusted) as a result of the 2009 global financial crisis and the forint’s steep decline that caused the mortgage market to collapse.
However, legislation in November 2014 required financial institutions to convert all outstanding foreign currency-denominated loans into HUF by December 2015, causing a sharp decrease in the stock of housing loans in foreign currency. House prices began to rise by 6.6% (7.3% inflation-adjusted) in 2014, and have been increasing annually by double-digits, surging by a total of 120% (99% inflation-adjusted) in 2014-19.
COVID-19 Impact on the Hungarian Housing Market
The housing market’s growth decelerated to 6.8% (3.9% inflation-adjusted) in 2020 due to the economic repercussions brought by the COVID-19 pandemic, the ensuing lockdown measures, and travel restrictions. However, the Hungarian housing market bounced back quickly in 2021, registering a house price increase of 21.4% (13.4% inflation-adjusted), as economic conditions gradually improve.
Government Measures Boost Demand
Part of the housing demand recovery during 2014-5 was due to other government measures. In 2013, the government increased the amount of 5-year loan subsidies, the maximum value of subsidized loans, and the loan house price threshold, resulting in significantly stronger credit demand in the second half of 2013.
In 2015, a non-refundable subsidy, the family housing allowance (CSOK), became available for buying new- and used homes, apartment expansions, and home construction. The program was expanded in 2018, allowing families returning from abroad and those owning a property to apply for the CSOK.
By end-2021, almost 192,000 families had benefited from the program, receiving a total of HUF 467.4 billion (€1.1 billion). Furthermore, every woman under the age of 40 is eligible for a CSOK interest-free loan when she first gets married. The government also repays HUF 1 million (€2,355) of mortgage loans for families with at least two children.
Discover Easter in Hungary: Useful Tips for Understanding Local Traditions and Customs
NewsIf you’re planning to relocate to Hungary, it’s important to be aware of the country’s customs and traditions, particularly during holidays such as Easter. Easter in Hungary is very significant for the locals, and it’s important to understand how Hungarians celebrate this holiday.
In this article, we will explore the Easter traditions and customs in Hungary that you should be aware of as a newcomer.
Easter in Hungary: A Time of Celebrations and Traditions
Easter in Hungary is a time of joy, feasting, and celebrations. The Easter holiday starts with Good Friday, which is a solemn day when the Hungarians remember the crucifixion of Jesus Christ. On this day, you will see people visiting the churches, and many shops and restaurants remain closed.
Easter Sunday is the most important day in the Hungarian Easter celebrations. On this day, the locals attend a mass in their local church, and families gather to have a festive meal. The traditional Easter meal in Hungary is ham and hard-boiled eggs, which are often decorated with intricate designs. You will also find a range of delicious cakes and pastries, such as the famous Hungarian Easter cake, known as “Kalács.”
Easter Monday, known as “Ducking Monday, or “Dousing Day” is a unique Hungarian tradition where boys visit the homes of girls and sprinkle water on them. According to the tradition, the water has a cleansing effect and brings good health and beauty to the girls.
Customs and Superstitions
Apart from the traditional Easter celebrations, Hungary has many customs and superstitions that are unique to this holiday. One of the most famous customs is the “Easter Sprinkling,” where people sprinkle perfume or cologne on each other’s faces as a sign of good luck and health.
To celebrate Easter in Hungary, Easter eggs are a must-have as they symbolize rebirth and new life. It is a traditional practice to dye the Easter eggs red in Hungary, and during the season, you can find them everywhere. Another interesting custom is that after sprinkling the girls, men usually receive a red-painted egg.
The Hungarian Easter tradition involves the Easter Bunny who hides painted eggs and chocolates for children to find in the garden on Easter Sunday morning. However, it’s worth noting that this practice originated in Germany.
In Hungary, it is also believed that you should not whistle on Easter Sunday, as it will bring bad luck for the rest of the year. It’s also considered unlucky to sweep the house during Easter, as it is believed to sweep away the good luck.
Local customs and traditions can help you integrate
Relocating to Hungary can be an exciting experience, and it’s essential to know the local customs and traditions to help you integrate into the local community.
Easter in Hungary is significant, and by understanding the traditions and customs, you can participate and enjoy the celebrations like a local. From the solemn Good Friday to the joyful Easter Sunday and the unique Easter Monday, Hungary has a rich and diverse culture that celebrates the Easter season in a unique way.
So, if you’re relocating to Hungary, get ready to experience the traditions and customs of Easter in this beautiful country. Happy Easter!
12 good tips for adjusting to life in Budapest
NewsBudapest is a beautiful and vibrant city that is rich in culture and history. If you are moving to Budapest, you may find that adjusting to life in a new country is difficult.
However, with a little effort and some helpful advice to help you, you can quickly settle into your new life in Budapest.
Here are 12 simple tips to help you adjust to your new surroundings:
1. Study the language
While it is possible to get by without knowing Hungarian in Budapest, knowing the language will make your life much easier.
Hungarian is regarded as one of the most difficult languages to learn for English speakers, ranking among the top ten.
However, it is definitely worth a shot. On average, it takes 44 weeks of consistent practise to be able to hold a decent conversation. Surprisingly, the Hungarian alphabet also has 44 letters!
Although it may appear difficult at first, learning the language will significantly enhance your life in Budapest. To begin, consider taking language classes or using language learning apps to learn the fundamentals and gradually expand your vocabulary.
This will not only help you communicate with locals, but it will also make it easier to navigate daily tasks like grocery shopping, restaurant ordering, and getting around the city.
2. Learn about the city.
Spend some time exploring the city to become acquainted with its layout and various neighbourhoods. This will make you feel more at ease and confident in your surroundings.
3. Join expat organisations.
There are numerous expat groups in Budapest that can help you build a social network and provide useful information. Joining one of these groups can help you adjust to your new surroundings faster.
4. Try the local cuisine.
Hungarian cuisine is delicious and unique, so try some of the local dishes. This will make you feel more at ease with the local culture.
5. Use public transportation.
Budapest has a fantastic public transportation system that is both affordable and efficient. It’s a great way to get around town and discover new neighbourhoods.
6. Discover the customs.
Hungary has its own traditions and customs that may differ from what you are used to. Learn about these traditions so that you can understand and respect them.
7. Be willing to try new things.
Budapest has a lot to offer, so be open to new experiences. Whether it’s trying new foods or going to a local festival, being open to new experiences will help you adjust to life in Budapest.
8. Make new friends with the locals.
Making friends with locals will help you understand the local culture and feel more connected to your new home.
9. Participate in activities.
Get involved in activities that interest you in Budapest’s thriving arts and culture scene. This will assist you in meeting new people and making new friends.
10. Find a hobby.
Finding an enjoyable hobby will help you feel more at ease in your new surroundings. Finding a hobby, whether it’s sports or joining a book club, can help you connect with like-minded people.
11. Maintain contact with family and friends.
Moving to a new country can be stressful, so keep in touch with your family and friends back home. This will make you feel more supported during your transition period.
12. Please, be patient.
It takes time to adjust to life in a new country, so be patient with yourself. Expect nothing to happen overnight, and remember that it’s fine to make mistakes and seek assistance along the way.
To summarise, moving to Budapest can be a difficult but rewarding experience. By following these tips and giving yourself enough time to adjust, you will be able to quickly settle into your new life in Budapest and begin enjoying everything that this lovely city has to offer.
Navigating Hungarian Culture: A Comprehensive Guide to Thriving in Hungary
NewsHungary is a land of rich history and cultural diversity, but adapting to its unique customs and traditions can be a daunting task.
Hungary is a captivating country with a vibrant culture that has evolved over centuries. From its famous thermal baths to the mouth-watering goulash, there’s no shortage of things that make Hungary a delightful place to live or visit. This article provides valuable insights into the Hungarian culture, empowering you to fully embrace this fascinating country.
Hungarian culture – a brief overwiew
Nevertheless, if you’re new to the country or have been here for some time, you may encounter some cultural differences that can be challenging to navigate. Fear not, as we’ve compiled a comprehensive guide to help you adapt to Hungarian culture with ease.
Genuine traditional Hungarian culture has survived for a long period in an untouched countryside characterized by rootedness. Peasant dress, food, and entertainment, including folk songs and folk dances—the rituals of weddings and Easter and Christmas holidays—have continued until the mid-20th century.
The Hungarian language is unique among the nations of Europe in that it is not related to any other major European language. This has caused Hungarians to feel isolated throughout much of their history. Russian was mandatory in schools and universities during the socialist period. Throughout history, Hungarians have struggled to find their own voice and identity while under the control of various forces.
Language
Hungarian is the official language of Hungary and is spoken by the majority of the population. It’s a complex language with unique grammar and syntax, which can make it challenging to learn. But don’t be intimidated. Before moving to Hungary, start learning some basic Hungarian phrases that will help you in your daily life, such as ordering food or asking for directions.
Hungarians are very proud of their language, it’s a key part of their identity.
In larger cities like Budapest, you’ll find that many people speak English. However, in smaller towns and rural areas, it’s less common. And don’t forget that Hungarians write their family name first, followed by their given name. There’s also a formal and informal language use. For example, the use of ‘te’ is informal, while ‘ön’ is formal.
Social Etiquette
Hungarians are polite and formal, especially in formal situations such as business settings. They use formal language, but in casual situations, they swap to informal language. It’s common for a senior person to offer a younger or less senior person to feel free to call him/her by their given name.
When greeting someone, it’s customary to shake hands and maintain eye contact during conversations. If you’re invited to someone’s home, it’s polite to bring a small gift, such as flowers or chocolates. Also, it’s considered impolite to arrive late for social events in Hungary, so make sure you arrive on time.
Food and Drink
Hungarian cuisine is hearty and delicious, featuring dishes such as beef stew, stuffed cabbage, and chimney cake. Hungarians also love their wine, with several wine regions throughout the country. When dining with Hungarians, wait for everyone to be served before starting to eat, and always offer a toast before taking the first sip of wine. In Hungary, it’s typical to eat a large lunch and a lighter dinner, so don’t be surprised if dinner is a smaller meal.
Holidays and Celebrations
Hungarians celebrate many holidays and traditions throughout the year. Easter is a significant part of the Hungarian culture, with many customs, such as the sprinkling of water or perfume on women. Christmas is also a major holiday, with the traditional celebration taking place on Christmas Eve. Families often attend midnight mass, followed by a festive meal.
Work Culture
Hungarians take their work seriously and are generally hardworking and efficient. They value punctuality and expect others to be on time for meetings and appointments. In Hungarian workplaces, there is often a strict hierarchy, and it’s essential to show respect to those in positions of authority. It’s also common to address colleagues and superiors by their title, such as Dr. or Professor.
Conclusion
Adapting to a new culture can be challenging, but by understanding the key cultural differences in Hungary, you’ll be better equipped to navigate daily life. Whether it’s learning some basic Hungarian phrases or familiarizing yourself with Hungarian social customs, taking the time to adapt to Hungarian culture will help you make the most of your time in this beautiful country.
Inter Relocation Receives Silver EcoVadis Rating
NewsWe’re thrilled to announce that Inter Relocation has received a Silver EcoVadis rating.
The award recognizes our commitment to sustainability and responsible business practices, including initiatives to reduce energy consumption and promote eco-friendly transportation.
Our efforts include:
We are committed to treating all employees fairly and equally, regardless of their gender, race, religion, or any other characteristic. By implementing these policies and practices, we strive to create a workplace that is flexible, inclusive, and environmentally responsible.
What is the EcoVadis Rating?
The EcoVadis Rating is a global rating platform that provides companies with an independent assessment of their environmental, social and governance (ESG) performance. The rating is based on a company’s performance across 21 CSR criteria, including climate change mitigation, water stewardship, human rights management and labour practices.
Companies are rated on a scale from Bronze to Platinum:
Why is the Silver EcoVadis Rating Important to us?
The EcoVadis rating is an important indicator of a company’s commitment to sustainability and responsible business practices. It helps customers, investors, and other stakeholders understand a company’s commitment to sustainability. It also helps companies track their progress over time.
Inter Relocation’s Commitment to Sustainability
At Inter Relocation, we are committed to sustainable business practices and responsible environmental stewardship. Our goal is to reduce our carbon footprint by using green technologies, reducing energy consumption and promoting eco-friendly transportation options.
We also support local communities through donations of used furniture, clothing and other household items that would otherwise be thrown away by those who move with us.
Our Team’s Hard Work and Dedication
This is an important milestone for us, and we want to thank our team members who have worked so hard to make this happen.
Our commitment to environmental sustainability goes beyond what is required by law or regulation. We strive for continuous improvement in all areas related to our impact on the planet, including energy use, waste management and recycling programs, water conservation efforts and more.
Our goal is always zero waste disposal through recycling or composting whenever possible; however there are times when disposing of certain materials cannot be avoided (such as hazardous materials). In these cases we ensure proper disposal occurs at certified facilities so they don’t end up harming people or animals in landfills where they could leach into groundwater supplies over time.”
What’s Next?
As a company, we’re committed to continuing our efforts to prioritize sustainability in all aspects of our operations. We want to monitor our progress over time and expand our initiatives to reduce our environmental impact. Our goal is not only to achieve an overall silver rating from EcoVadis but also get individual scores for each area they evaluate-including energy efficiency, waste management, water usage and more.
We’re proud to have received a Silver EcoVadis rating, which recognizes our commitment to sustainability and responsible business practices. We would like to thank EcoVadis for this recognition, as well as all of our clients who have helped us achieve it by choosing Inter Relocation for their relocation needs.
Essential role of diversity, equity and inclusion in Relocation
NewsThe role of diversity, equity and inclusion in Relocation has become an increasingly pressing issue in the global mobility industry.
As the world becomes more interconnected and global mobility continues to rise, companies are recognizing the importance of creating inclusive and diverse workforces.
The industry has a unique opportunity to lead the way in creating more equitable and inclusive workplaces and communities, but it requires a conscious effort to make changes.
Understanding the importance of diversity, equity and inclusion in Relocation
Diversity refers to the differences that exist among individuals and groups, including differences in race, ethnicity, gender, age, religion, sexual orientation, and ability. Equity refers to the fair treatment, access, and opportunity for all people, regardless of their differences. Inclusion refers to creating an environment where diverse individuals and groups feel valued, respected, and supported.
In the global mobility industry, diversity, equity and inclusion are critical for several reasons. Firstly, it enhances creativity, innovation, and problem-solving by bringing together individuals with different backgrounds, experiences, and perspectives. Secondly, it leads to better decision-making and improved relationships with customers, clients, and communities.
Finally, a diverse and inclusive workforce reflects the makeup of society, making companies more appealing to a wider range of people.
The current state of diversity, equity and inclusion in Relocation
Despite the many benefits, the global mobility industry still has a long way to go in terms of diversity, equity and inclusion. Many companies struggle to attract and retain a diverse workforce, and few have programs in place to promote diversity and inclusion. Furthermore, there are few diversity, equity and inclusion initiatives specifically targeted towards the global mobility industry.
Moving forward: making the Global Mobility Industry more diverse
To move forward, the global mobility industry must take a proactive approach to promoting diversity, equity and inclusion. Companies must make a conscious effort to recruit, retain, and promote a diverse workforce. Additionally, they must provide training and education to employees on the importance of diversity, equity, and inclusion and implement programs that promote these values.
Examples of diversity, equity and inclusion in Relocation
One way to make the global mobility industry more diverse, equitable, and inclusive is by providing opportunities for professional development and career advancement to underrepresented groups. Companies can also provide mentorship programs and create employee resource groups to support diverse employees.
Furthermore, companies must work to create inclusive work environments by promoting open communication, embracing differences, and valuing diverse perspectives.
Another way to make the global mobility industry more inclusive is by ensuring that company policies, procedures, and practices are equitable and non-discriminatory. This includes ensuring that all employees have equal access to opportunities, resources, and benefits, and that compensation is fair and equitable. Companies must also take steps to address systemic barriers that limit the ability of underrepresented groups to succeed.
The benefits of a diverse, equitable and inclusive Global Mobility Industry
A diverse, equitable and inclusive global mobility industry not only benefits individual employees and companies, but society as a whole.
A more diverse and inclusive industry leads to better decision-making, improved relationships with customers and communities, and enhanced creativity and innovation. Furthermore, it helps to break down barriers and promote understanding, which is essential for a more peaceful and harmonious world.
In conclusion, promoting diversity, equity and inclusion in the global mobility industry is not just the right thing to do, it is also essential for the industry’s long-term success. Companies can take steps to promote diversity, equity, and inclusion, and strive to create welcoming work environments.
By embracing these values, companies in the global mobility industry can foster a more inclusive and supportive culture for all, leading to improved outcomes and a brighter future for the industry as a whole.
Sustainability in Relocation: Revolutionizing Global Mobility with 10 Dynamic Approaches
NewsThe relocation and global mobility industry plays a crucial role in the movement of people and goods across the world, but it also has the potential to have a significant impact on the environment.
This is why the concept of sustainability in relocation has become increasingly important in recent years.
Why Sustainability Matters in Relocation
The global mobility industry has the potential to contribute to many sustainability issues, such as carbon emissions, waste generation, and resource consumption. This is why it is crucial for companies in this industry to take a proactive approach to sustainability, to ensure that they are reducing their environmental impact and helping to create a more sustainable future.
The Benefits of Sustainability in Relocation
Not only is sustainability in relocation the right thing to do for the environment, but it can also bring many benefits to companies in the global mobility industry. These benefits include:
Improved Reputation:
Companies that prioritize sustainability in relocation will be seen as responsible and environmentally conscious, which can enhance their reputation and build trust with customers and stakeholders.
Increased Cost Savings:
Implementing sustainable practices in relocation can reduce waste, increase energy efficiency, and lower costs, ultimately resulting in cost savings for companies in the global mobility industry.
Competitive Advantage:
Companies that are leading the way in sustainability in relocation will have a competitive advantage over those who are not, as customers become increasingly aware of the importance of sustainability in their purchasing decisions.
The Importance of Sustainability in Relocation Planning
Relocation planning is a critical stage in the global mobility process and is an opportunity for companies to implement sustainable practices that can reduce their environmental impact.
This includes:
Choosing Eco-Friendly Accommodation:
Accommodation is one of the largest expenses in the relocation process, and choosing eco-friendly accommodation can help reduce the environmental impact of the move.
Using Public Transportation:
Encouraging employees to use public transportation or carpooling can reduce carbon emissions and promote sustainable practices.
Implementing Recycling Programs:
Implementing recycling programs in both the new and old location can reduce waste and promote sustainability in the relocation process.
Choosing sustainable paper materials:
Using sustainable paper materials, such as biodegradable or recycled materials, can reduce waste and promote sustainability in the relocation process.
Sustainability in Relocation: A Shared Responsibility
Sustainability in relocation is not just the responsibility of companies, but a shared responsibility between companies, employees, and suppliers. Companies can encourage employees to adopt sustainable practices by providing information and resources, while suppliers can support sustainability in relocation by providing eco-friendly products and services.
For example, suppliers of relocation services can offer sustainable transportation options, such as electric vehicles, or use eco-friendly materials in their packaging. Employees can support sustainability in relocation by using public transportation, reducing energy consumption, and reducing waste in their personal lives.
The Future of Sustainability in Relocation
The global mobility industry has the potential to play a major role in creating a more sustainable future, but it is up to companies in this industry to take the lead and implement sustainable practices in their operations. By doing so, they will not only be reducing their environmental impact, but they will also be creating a better future for themselves and future generations.
Sustainability in relocation is not just an optional extra, but a crucial aspect of the global mobility industry that must be prioritized. The future of the industry depends on it, and it is up to companies and individuals to work together to ensure that the future is sustainable.
So let’s raise the bar and make a positive impact! With innovative solutions and a commitment to green practices, the global mobility industry has the power to lead the charge towards a more sustainable future. Join us in taking action and let’s shape a better tomorrow, together!