Home to several international companies, Budapest has become a popular location for tax professionals as well as one of Europe’s tourist hubs. Find out why so many expats are choosing to relocate to Budapest. Whether you have your whole family to consider or you are moving around independently, this European capital city delivers unexpected surprises.
1. LOW COST OF LIVING
Most expats choose to live in Budapest or Hungary’s smaller cities such as Eger or Pecs despite the cost of living in the Hungarian countryside being considerably cheaper. Prices for restaurant meals, rent and food shopping can rise by 10-35% in central Budapest. However, this compares favourably to other European capital cities and Budapest is one of the cheapest to live in.
Rental prices for expats living in the Hungarian capital tend to cost within the hundreds rather than thousands. It’s noticeable how low food and drink prices are when compared to the United Kingdom and other European cities. For example, a three-course fine dining meal for two people in semi-expensive restaurant costs as low as 8,000 Hungarian forints or 21 British pounds.
In addition, Hungary’s personal income tax levied at a flat rate of 15% coupled with the low cost of living, stands out as a value point for expats who relocate to Budapest.
2. EXQUISITE CUISINE
Rich with an extravaganza of various flavours and spices, Hungarian cuisine is mouth-watering and a pleasant surprise to those who haven’t yet experienced it. Traditional dishes such as goulash or gulyás (traditionally a meat stew with vegetables and noodles, seasoned with paprika amongst other spices) continue to form the proud cultural heritage. For the best gulyás in town, head to Budapest Bisztró.
Other typical Hungarian dishes include paprikás (a stew with sweet paprika and tejföl), lángos (deep-fried flatbread) and kolbász (Hungarian sausage).
For lovers of café and cake culture, Budapest is the place to be. You can gorge on a variety of delicious sweet treats throughout the city. You won’t go hungry in Hungary!
3. ITS BEAUTY
When it comes to beautiful buildings and stunning architecture, Budapest wins. From walking across one of the bridges over the Danube river to strolling through the charming café-lined streets to eventually finding yourself in front of the impressive St Stephen’s Basilica, Budapest is full of awe-inspiring experiences.
Many of the city’s attractions are recognised as World Heritage Sites. Castle Hill, the Royal Palace, Matthias Church and Fishermen’s Bastion were added to the list in 1987.
Here are just a few of the many amazing sights Budapest has to offer:
Also known as The Royal Palace, Buda Castle can be found on the Budapest skyline at the top of Castle Hill. Looking out from the Castle, you can enjoy amazing views of River Danube and the Pest side of the city.
St Stephen’s Basilica
One of the top ten attractions in Budapest, St Stephen’s Basilica is popular for its organ concerts and spectacular views of the city from the top of the dome.
Not only can you admire the captivating architecture of the Hungarian parliament from Buda Castle, but, the interior of the Parliament building is also just as spectacular. The building is characterised by its pearly white facades and red domes during the day and is lit up by a gentle golden glow at night. A truly alluring sight that will make you want to stay in Budapest forever.
On Castle Hill, you can find Fisherman’s Bastion (Halászbástya), a neo-Gothic and neo-Romanesque style terrace. Not only does the beautiful architecture resemble that of Walt Disney’s logo, providing fairy-tale surroundings for visitors, however, the Bastion also offers stunning panoramic views of Budapest.
4. PUBLIC TRANSPORT
Budapest offers an excellent public transport system so locals and expats don’t require a car to get around the city. There are buses, trams, subways (or metro as the locals call it), trains and even boat services available that are reliable and always run on time. Tram 4/6 runs 24 hours per day, covering the majority of central Budapest which is useful for getting home if out late with friends.
There are also daily, monthly, quarterly, semester and annual passes that can be used on public transport – a great way to save money if frequent travel is required. Find out more about the passes available.
5. THERMAL BATHS AND SPAS
Commonly known as Europe’s spa capital, Budapest is host to a range of thermal baths and spas. In fact, there are currently over 100 thermal springs in the city where you can bathe in mineral-rich and geothermal waters or artistic outdoor pools.
Why not try The Art Nouveau Gellért Baths, recognised for their most beautiful indoor swimming pools in the city or the lavish Széchenyi Baths.
6. WARM HOSPITALITY
Although they may appear rather reserved on the outside, Hungarians are very friendly and welcoming people. Once you become friends with a Hungarian, not only will you have a friend for life, but you will also have another home.
If you are interested in a move to Budapest or anywhere else in the world and would like to speak to Kingpin International about International Tax Opportunities, please contact a member of the team. Alternatively, please browse our current International Tax vacancies.