A new bill in Hungary aims to empower municipalities to control influxes of new residents and rising real estate prices. The bill offers five options for local governments to restrict property purchases or residency registration for outsiders.
Concerns exist that these restrictions might negatively impact property values and hinder access to mortgages in affected areas. Some fear property prices will drop significantly if the legislation passes.
Minister Navracsics addressed these concerns, stating that while price drops are possible, the most extreme measure (a complete ban on property purchases) could be removed from the bill if necessary.