Migration to Hungary Increases Among Germans: Understanding the Reasons Behind This Trend
Hungary, a land rich in history and culture, is becoming an increasingly popular destination for German expats. The cost of living in Hungary is significantly lower than in Germany, making it an attractive choice for many.
According to Hungarian authorities, there has been a notable increase in the number of permanent German residents in recent years, with over 3,600 settling in Hungary. This trend is reflected in the statistics provided by the Federal Statistical Office, which estimates that approximately 23,295 German citizens now call Hungary home.
One of the main factors drawing Germans to Hungary is the affordable real estate market. Houses and apartments in Hungary cost, on average, about 50% less than in Germany. Even though real estate prices have risen by over 270% since 2010, they remain much lower than German standards in many places.
In rural regions and the Balaton region, plots of land and houses are available at relatively affordable conditions, making them an appealing option for those seeking a slower pace of life.
Budapest, Hungary's vibrant capital city, is the most popular city among Germans who have recently moved there. The city's rich history, vibrant culture, and lower cost of living make it a compelling choice for expats.
Energy, food, and services are also cheaper in Hungary compared to Germany, providing a higher purchasing power for expats despite lower incomes. This, coupled with the favourable real estate market, makes Hungary a financially viable option for many Germans.
The reasons for moving to Hungary range from financial considerations to personal life decisions. Regardless of the motivation, Hungary's lower cost of living, favourable real estate market, and various political and cultural factors are making it a popular choice for Germans.
In fact, Hungary is not alone in attracting an increasing number of German expats. Alongside traditional destinations like Spain, Austria, and Switzerland, Hungary is part of a group of EU states that are seeing a rise in German expats.
As more and more Germans choose to make Hungary their home, it's clear that this Eastern European country is becoming a significant player in the expat scene. Whether it's for a slower pace of life, lower costs, or the allure of a new culture, Hungary seems to be offering something for everyone.
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