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Business Facts Hungary – Living and working in Hungary

Business Facts Hungary – Living and working in Hungary

What country first comes to mind when you think about living elsewhere – France, Spain or Italy? Few people would think of Hungary, although it has a lot to offer. You may be surprised, unemployment is low and there is huge demand for skilled workers.

How long can you stay?

As an EU citizen, you can spend up to 90 days in Hungary without the need to register with the authorities. If you want to stay beyond 90 days, you will need to prove that you are not a burden to the Hungarian state by, for example, furnishing a valid employment contract. You must register with the relevant immigration authority by the 93rd day at the latest. You will need a valid identification document, an employment contract, a rental agreement incl. additional declaration from the landlord, evidence of adequate funds and documents proving your eligibility for health insurance.

Be prepared to pay an administration fee of usually 1,000 HUF to the relevant authority. When all fees have been paid and your documentation is complete, you will receive an indefinite registration confirmation.

The job market

Hungary is one of the most advanced states in the former Eastern Bloc. The unemployment rate is 3.4% (as of June 2019). Germans in particular stand a good chance of finding work in Hungary. German companies are seen as an important source of foreign investment. Knowledge of English and German are an advantage, you don’t need to speak perfect Hungarian. Good job prospects are to be had for specialists in mechanical engineering, the automotive industry and IT sector.

Hungary generally has a 40-hour working week, or an 8-hour working day. Basic holiday entitlement is 20 days a year. The number of holiday days rises with age. After the age of 25, workers receive on average one additional day’s holiday every three years. Additional holiday entitlement is limited to ten days so that a maximum of 30 days can be earned.

The housing market

Compared with the rest of the EU, rents in Hungary are low. A two-room apartment in the town center will cost just under 385 € per month, an apartment in the suburbs costs 287 € (prices quoted for unfurnished apartment excluding electricity and heating costs). At present, property prices are low although the growth in the tourism industry is expected to push prices up. Those looking to buy or build a house or apartment in Hungary will also find profitable opportunities to invest.

The cost of living

Costs for goods and services in Hungary are stable. In comparison to other EU countries, the price of food is slightly lower. A bread roll in Hungary costs around 0.15 €, a liter of milk costs approximately 0.70 €. According to figures from Eurostat, the cost of a weekly shop for a family of four is around 61.57 €. An evening meal out will put you back between 7.70 € and 10.77 €.

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