European Lake Resort

Europe's Best Kept Secret

European Lakes Golf & Country Club is situated amongst the rolling hills of the Zselic Natural Reserve in South West Hungary, an area that boasts the best wild life park in Europe, combining golf, relaxation and property, surrounded by breathtaking scenery and a feeling of seclusion.
The experience of peace and tranquillity is guaranteed, but is complemented by its proximity to the city of Kaposvar (20 minutes), Pecs (30 minutes) and Hungary's second biggest airport, Flybalaton, (45 minutes). Lake Balaton holiday resort is situated only 45 minutes away for those who like to enjoy time at the beach, or a boat trip

Why Invest in Hungarian Property

Hungary is the future for overseas investors! Since joining the European Union in 2004, regulations have been made easier for foreign buyers investing in Hungary. For over a 1000 years, Hungary has been one of the best kept secrets in Europe. However, since becoming a member state, it is now more well known and increasingly attractive to foreign buyers. Hungarians are hospitable, friendly and an increasing number now speak English. The cost of living in Hungary is very low compared to the rest of Europe.
Property prices are still very low, yet capital appreciation figures from the Hungarian central statistics office show that property prices have increased by an average of 10% per annum for the last 4 years. Hungary is steadily growing into one of the most successful economies in Europe. The private sector accounts for over 80% of the GDP. Foreign confidence is strong and since 1989, direct foreign investment has totalled more than $22 billion. In the past six months the Hungarian Forint has been the 3rd strongest performing currency in the world

From a holiday perspective, you will not find a better location than South West Hungary. The Zselic natural reserve and the Lake Balaton Region are renowned for their wine growing culture, wonderful weather, relaxed lifestyle and easy access.

The Weather

The weather in Hungary will give you plenty of long hot Summer days, whilst winter is cold, crisp, but short. Golf can be played for ten months of the year, with only December and January being the time that only the brave will endure.
For your convenience we have provided you with a continuous real time update on the current weather conditions experienced in Hungary. Please view here.

Revenue to probe Irish overseas property investors

The Sunday Business Post reports that the Irish Revenue Commissioners are to get major new powers to monitor and investigate Irish people who invest in overseas properties.

Under the new laws, the tax authority will be able to compel Irish letting agents to hand over details of clients with overseas properties. The move is designed to ensure that Irish residents are paying tax on letting income generated from their overseas property investments.Revenue officials have become increasingly concerned that Irish individuals are using offshore properties to evade tax, and have asked the government for more powers to gather intelligence.
The new provisions are contained in the summary of measures in last week’s Finance Bill, the legislative instrument that brings legal effect to the budget.

Letting agents have not previously been obliged to hand over the data of their Irish customers with overseas properties. This frustrated the Revenue’s efforts to assess how many Irish individuals had overseas homes and if they were let out to local tenants.

The Revenue petitioned the government for a change in the law to address this issue. Under the new law, letting agents will be forced to hand over all relevant data requested by a Revenue inspector if they are managing a foreign property on behalf of an Irish resident client.