If you are considering the idea of moving to Hungary on a permanent basis, you might have pondered over the running costs of living in Hungary. In this post, we will be taking a closer look at the cost of living and working in the country, along with what you can expect to pay for most services in Hungary.
Basic costs of living in Hungary
As an expatriate, you might be living in Hungary on a limited budget. If you live on your own, you can expect to pay at least €400 per month, but if you have to support a family home, the costs can easily increase three-fold. Obviously, costs vary depending on which district you choose to reside in.
According to City Mayors, Budapest is the world’s 48th most expensive city to live in, which actually makes it very budget-friendly.
Generally speaking, the costs of living in Hungary is on par (perhaps even below) that of other European countries. Budapest ranked 176th out of 209 cities across the world in the Mercer Cost of Living Survey of 2017. This means that the city offers expats a low cost of living, which is always a welcome change.
You might also have an advantage as an expatriate working in Hungary since most expats tend to earn higher salaries. The reason for this is because most foreign workers are sourced for their expertise, specialising in fields that cannot be filled with Hungarian nationals. Earning a higher salary could see you leading a better quality of life
Accommodation costs in Hungary
One of the biggest living expenses you will incur while living and working in Hungary is that of accommodation. If you choose to live in the urban areas, like Budapest, the costs can be substantial. Depending on the location, size, and condition of your home in Hungary, the costs may vary.
Food costs in Hungary
Next to accommodation, the cost of food in Hungary will probably be your second biggest expense. Food costs account for roughly one-quarter of the salary of Hungarian nationals. Keep in mind that although you might want to indulge in tastes of home while living in Hungary, imported goods can be very expensive. Shopping for fresh produce and investing in local goods might be one of your best options as far as saving on food costs are concerned.
Transport costs in Hungary
Hungary has a highly-functional and excellently developed transport system that is both convenient and inexpensive to use. You can purchase monthly transport tickets that allow you access to services such as trams, buses, boats, and the metro in Budapest.
Educational costs in Hungary
If you have kids that are well-versed in the Hungarian language or young enough to learn the language, you can benefit from the free public schooling program in the country. Keep in mind that should you choose to use international schooling curricula, the costs of education can be quite substantial. Educational costs might well be one of the largest expenses for expats living and working in Hungary.
Costs of medical care in Hungary
If you are employed in Hungary, you will have access to some free and some subsidised healthcare services in the country. Hungarian healthcare is of very high quality, and the country is making a name for itself as a prime medical tourism destination. Even if you decide to use private healthcare, you will still benefit from the relatively low costs when compared to most Western countries.
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Hi I would like to get a healthcare insurance for residence permit purposes . Can you quote?