According to Serbian Economist, after several years of low activity among foreign buyers, Hungary’s real estate market may be entering a phase of renewed interest from foreign capital.
According to experts, the Hungarian market has long been operating below its potential: after four years of stagnation, foreign investors have largely ceded ground to domestic buyers. Now analysts expect that a combination of political changes, potential reforms, and pent-up demand could bring Hungary back into the spotlight for international investors.
An additional factor is the expectation of an improved investment climate and the potential release of European funding. Property Forum notes that market participants are discussing a “restart” of the Hungarian real estate market following the April 2026 elections, with macroeconomic stability, regulation, and the willingness of institutional investors to return to the country remaining key issues.
At the same time, the market has already gone through a period of significant price growth. According to Global Property Guide, citing the Hungarian National Bank’s housing price index, housing in Hungary rose by 21.29% year-over-year in the third quarter of 2025, or by 16.29% in real terms, indicating strong price momentum even before the full return of foreign demand.
In 2026, the market appears more balanced. According to data from Duna House cited by International Investment, approximately 78% of transactions are concluded below the initial asking price, indicating a strengthening of buyers’ bargaining power and the market’s transition from overheating to a more stable phase.
Budapest remains the main center of interest. The capital combines high rental demand, developed infrastructure, tourist traffic, and its status as the country’s business hub. However, it is in Budapest that authorities are also discussing restrictions on short-term rentals: earlier, one of the city’s central districts voted to ban short-term rentals starting in 2026, which could alter the investment model for some buyers.
For foreign investors, Hungary retains several advantages: prices are lower than in most Western European capitals, the market is part of the EU, and the weakening of the forint may make purchases more attractive to buyers with capital in euros or dollars. At the same time, the risks remain significant: rental regulations, high inflation in recent years, political uncertainty, and the market’s dependence on state support and credit conditions.
The return of foreign capital could support prices, especially in Budapest and other liquid locations. However, for local buyers, this could exacerbate the housing affordability problem, which has already become one of the key social issues in Hungary. The government has previously launched first-home support programs, including subsidized loans at 3% for up to 25 years, to help young buyers enter the market.
Thus, the Hungarian real estate market enters 2026 in a mixed state: prices have already risen significantly, demand has become more cautious, but expectations of political and economic changes may once again attract foreign investors. For the market, this means a likely uptick in transactions, and for buyers—the need to more carefully evaluate location, rental models, and regulatory risks.
Over the past three years, Turkish investors have invested approximately EUR614 million in Greek real estate, significantly strengthening their presence in the housing market of their neighboring country. According to experts, the main motivation for buyers from Turkey has been the desire to protect their capital from high inflation, currency fluctuations, and domestic economic uncertainty. For them, Greek real estate serves not only as an investment asset but also as a way to gain access to the European residency program.
An additional factor is the Golden Visa program, which allows citizens of non-EU countries to obtain a residence permit in Greece through investment. Depending on the property and region, the minimum investment threshold ranges from EUR250,000 to EUR800,000, and the residence permit itself is issued for five years with the possibility of renewal provided the investment is maintained.
The growth in interest from Turkish buyers is particularly noticeable against the backdrop of an overall decline in foreign investment in Greek real estate. According to the Bank of Greece, foreign investment in this sector fell by 22% in 2025—to EUR2.05 billion, down from EUR2.75 billion the previous year. Despite the decline, 2025 remained one of the strongest years for the market in terms of foreign capital inflows.
For Greece, Turkish demand has a dual effect. On the one hand, it supports developers, the secondary housing market, and investments in tourist areas. On the other hand, it increases pressure on prices, especially in Athens, Thessaloniki, on the islands, and in coastal locations, where supply is limited and local residents are already facing housing affordability issues.
Turkish investors’ interest is also linked to geographical proximity. Greece is perceived as a familiar and relatively close market: tourism and business ties are developing between the countries, and the Greek islands remain a popular destination for Turkish citizens. Reuters previously reported that Greece had extended a simplified visa regime for Turkish citizens to a number of Aegean islands, which further bolstered ties between the two markets.
In the near future, Turkish capital is likely to continue playing a significant role in the Greek market.
Dubai has abolished the minimum property value requirement for obtaining a two-year investor residency visa. Previously, buyers were required to own a property worth at least 750,000 dirhams, or approximately $204,000.
The new rules apply to the two-year renewable visa for property owners, which is processed through the Dubai Land Department and its Cube Centre. Now, an individual owner can apply for such a residence visa regardless of the property’s value, provided the property is registered in their name and all other documentation requirements are met.
For joint ownership, the minimum threshold remains, but in a different form: each co-owner must hold a share worth at least 400,000 dirhams. This means that the relaxation is primarily intended for buyers who register the property under a single owner.
Removing the threshold makes residency status more accessible to buyers of small apartments and studios, which previously might not have met the minimum value requirement. For Dubai’s real estate market, this could boost demand in more affordable segments, especially among foreigners who view a purchase not only as an investment but also as a way to obtain legal residency status in the UAE.
However, this change does not apply to the 10-year Golden Visa. For the “Golden Visa” obtained through real estate, a separate investment threshold remains in effect—typically starting at 2 million dirhams. Therefore, the new measure specifically broadens the entry point into the residency market but does not replace long-term programs for major investors.
For buyers, what remains important is not only the fact of owning real estate, but also the legal soundness of the property, registration of ownership rights, compliance with Dubai Land Department requirements, and the willingness to cover associated costs for visa processing, Emirates ID, and health insurance.
Dubai remains one of the most active real estate markets in the Middle East. Demand is supported by the influx of foreign residents, growth in business activity, the UAE’s tax appeal, and its developed infrastructure. The removal of the minimum threshold for a two-year residency permit may further expand the pool of buyers for whom purchasing real estate in the emirate becomes a way not only to invest but also to establish a foothold in the country.
Paraguay has introduced new requirements for obtaining investor status, under which foreigners can apply for permanent residency by investing at least $200,000 in real estate.
According to information published by the Paraguayan Cabinet, the reform is enshrined in Decree No. 0283/2026 and involves the introduction of the Investor Pass system, which allows investors to obtain permanent residency directly, bypassing the temporary status stage. The new rules formalize four main tracks for investors: industrial investments of $70,000 or more, real estate investments of $200,000 or more, investments in financial instruments of $200,000 or more, and investments in tourism projects of $150,000 or more.
A key innovation for the real estate market is that applicants will be able to apply for investor status not only after full payment for the property. For the first time, Paraguay allows applicants to apply for permanent residency after paying just 30% of the property’s value, provided the transaction is formalized through a notarized purchase agreement and the commitment to pay the remaining amount is confirmed.
In effect, this means that Paraguay offers one of the most flexible investment migration models in South America. Unlike many programs that require full capital investment before status is granted, the Paraguayan scheme allows investors to join a project during the construction or design phase, thereby lowering the entry barrier for investors.
For the real estate market, this model could become an additional driver of demand from foreigners seeking both immigration status and investment opportunities in a relatively affordable market.
Paraguay is a landlocked country in central South America. The country borders Brazil, Argentina, and Bolivia, and its capital is Asunción. Paraguay is traditionally considered one of the most affordable countries in the region in terms of cost of living and doing business, and its economy relies on agriculture, hydropower, trade, and the processing of agricultural products.
Foreign buyers are increasingly entering the Albanian real estate market, but in some cases they are purchasing properties at higher prices than local residents. This is particularly noticeable in popular tourist destinations, especially in Saranda, on the Albanian Riviera, and in central Tirana.
According to experts, in certain high-demand markets, foreigners may pay 5–10% more for comparable properties than local buyers. For an apartment costing around EUR 150,000, the overpayment can range from EUR 500 to EUR 15,000.
As noted, the price difference is not solely due to the buyer’s foreign status. The final price is influenced by the remote nature of negotiations, high demand for move-in-ready housing, and increased interest in properties with sea views, which are inherently more expensive. Another factor is the limited access foreigners have to off-market listings, whereas locals often receive information about sales through personal connections.
At the same time, many foreign buyers generally view their transaction experiences in Albania positively. Among the advantages, they cite the friendliness of local professionals and the relatively straightforward notarization process compared to several other Mediterranean countries.
For the Albanian market, this trend implies a further strengthening of the role of external demand, particularly in tourist areas. In the medium term, this may support price growth in coastal regions, but simultaneously widen the gap between purchasing conditions for locals and foreigners.
Investment company S1 REIT supports the adoption and implementation of a draft law on the taxation of income received through digital platforms as a tool for combating the shadow economy in the real estate rental market, the company’s press service told Interfax-Ukraine.
S1 REIT CFO Vadym Pavlushyna noted that real estate investment trusts (REITs) operate with full tax transparency.
“We pay all taxes required by law on behalf of our investors. Specifically, dividend income is taxed at a rate of 9% (personal income tax) and 5% (military levy). For us, this is the standard, which we conscientiously and strictly adhere to. However, let’s be frank: most of the rental market remains in the ‘shadows.’ This creates an uneven playing field. It is quite difficult to convince people to ‘play by the rules’ when loopholes for tax evasion exist. Not least, these gaps are caused by weak regulation and a lack of oversight. “If the new bill creates conditions under which it becomes harder to avoid paying taxes, this will be a positive signal for the entire market,” he commented.
He emphasized that not only the state stands to gain from regulating the industry, but also investors and property owners who verify their income.
“They will be able to freely manage their funds and not fear audits, as they will have official confirmation of their income sources. This has become standard practice in EU countries, and Ukraine will finally not be an exception,” Pavlushyin noted.
As reported, on April 8, the Verkhovna Rada adopted in the first reading, as a basis subject to further refinement, draft law No. 15111-d on the automatic exchange of information regarding income on digital platforms, which is a structural milestone of the new financing program with the International Monetary Fund (IMF) that Ukraine was required to implement in March.
The initial version of the bill (No. 15111), submitted by the Cabinet of Ministers, covered income from the rental of real estate and vehicles; personal services and the sale of goods received by an individual through digital platforms in amounts up to 834 times the minimum wage (approximately UAH 7.2 million as of 2026), as well as the introduction of a tax threshold of EUR 2,000 per year. The obligations of a tax agent will fall on digital platform operators.
Draft Law No. 15111-d is a revised version of the initial government document prepared by the Verkhovna Rada Committee on Finance, Tax, and Customs Policy. Unlike the first draft, the final text omits a number of provisions that businesses and industry experts considered excessive.
A key change in Document No. 15111-d is the introduction of a preferential tax regime for self-employed individuals. It provides that instead of the general rate of 19.5% (18% personal income tax and 1.5% military levy) for income received through digital platforms, a rate of 5% will apply. For the duration of this special regime, such income is also exempt from the military levy. This model applies to individuals whose annual income does not exceed the limit set for the second group of single tax payers.
The revised draft document also clarified the registration procedure: users of online services will not need to register as sole proprietors—self-employed status will be granted automatically after registering on the platform and consenting to the transfer of information to the tax service.
S1 REIT is an investment company specializing in investments in professionally managed income-generating real estate. The company operates under the Real Estate Investment Trust (REIT) model, providing investors with the opportunity to participate in the ownership and receipt of income from profitable properties without directly managing the assets.
Currently, S1 REIT’s portfolio includes two funds—S1 VDNG and S1 Obolon. The funds’ assets consist of apartments in income-generating buildings developed by Standard One.
