Is it true there is no stamp duty on new-built property?
Not true. There is stamp duty, but it is significantly decreased for new-built property.
Only the amount over 15 million HUF (ca. 56,800 EUR) is taxed at 4%. Anything below this threshold is tax free.
So if you buy a small new-built apartment, there is no stamp duty.
However, if the purchase price exceeds 30 million HUF (ca. 113,600 EUR), the tax is levied on the full price, following the calculation below, just as it applies to old resale property:
Up to 4 million HUF (ca. 15,000 EUR) the tax is 2%, that is 300 EUR. For the remainder of the purchase price one must pay 4% stamp duty.
Keep in mind that if garage and/or storage space is purchased along with the apartment, it is taxed at 4%, regardless of it being new, because it is treated as commercial property.
The tax on land is 4%. This may be completely waived if one builds on it within 4 years and this is indicated in advance.
