Underlying this migration trend are concerns about safety and dissatisfaction with current political policies in Germany.Continue reading
An increasing number of German pensioners are choosing to settle in Hungary, attracted by its affordability and favorable tax policies, writes Mandiner, based on an article published by Reuters.
Many Germans, especially retirees, are drawn to the country’s low cost of living, and the absence of Personal Income Tax (PIT) for pensioners is a significant advantage over other European nations.
Hungary’s lower living costs compared to Germany, Spain, and other Western countries make it an appealing destination. As Reuters writes,
even a modest pension of EUR 1,000 allows German retirees to live comfortably in Hungary, while in Spain, a pensioner would need at least EUR 2,500 a month to make ends meet.
Photo: Pixabay
Additionally, Hungary offers pensioners the benefit of being exempt from PIT, unlike the 15% tax rate that working residents face.
The political situation in Germany also plays a role in this migration trend. Many pensioners are discontented with the current state of affairs in their home country, feeling increasingly alienated by the influx of immigrants and the declining living standards of the middle class. As a German pensioner noted to Reuters,
I am very critical of what is happening in Germany today… if the living standards of the middle class deteriorate even more, people will think that we need to change.”
This sense of dissatisfaction has prompted many to look for more stable and affordable alternatives, with Hungary becoming an attractive choice.
The Tihany Benedictine Abbey on the northern shore of Lake Balaton. Photo: Pixabay
German retirees also have a deep sentimental connection to Hungary, particularly Lake Balaton, which was a popular holiday destination during the GDR era. As Reuters highlights, pensioners like Andre Ivan and his wife, who moved to Hungary in 1998, fondly remember their trips to Balaton and chose to settle there for both financial and nostalgic reasons.
Ivan described Hungary as a “safe, orderly country,” where they could live comfortably and affordably.
The firm immigration policies of Viktor Orbán’s government, in contrast to those in Germany, also appeal to these retirees, who appreciate the controlled approach to immigration.
Hungary offers a safe and financially advantageous alternative for those seeking a peaceful retirement away from the challenges facing their home country.
Via Mandiner, Reuters; Featured Image: Pixabay