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UPDATE 2-Hungary to Provide Subsidised Loans for First-Time Home Buyers, PM Says
- On July 2, the Hungarian government authorized a subsidised loan scheme offering first-time home buyers nationwide financing of as much as 50 million forints, featuring a fixed interest rate of 3% for terms up to 25 years.
- This initiative follows a sharp 234% rise in real estate values over the past 14 years, with home ownership rates at 80% for those over 40 but only 40% for ages 18-40.
- The program offers first-time buyers subsidized loans with a fixed 3% interest rate, requiring borrowers to provide a 10 percent initial payment. It excludes high-end homes priced above 100 million forints, does not impose age or marital restrictions on applicants, and can be combined with other family support initiatives.
- Prime Minister Orban noted market interest rates currently average 7-8%, making the new 3% loans “less than half of that,” while financial analysis shows monthly instalments for a 30 million forint loan drop from 223,000 to 166,000 forints.
- The programme aims to improve housing access for young Hungarians amid ongoing property appreciation and will be accompanied by government plans to increase student hostel capacity and launch a home renovation scheme in September.
16 Articles
16 Articles
UPDATE 2-Hungary to provide subsidised loans for first-time home buyers, PM says
UPDATE 2-Hungary to provide subsidised loans for first-time home buyers, PM says Hungary will provide subsidised loans with a 3% interest rate for all first-time home buyers, regardless of age or location, Prime Minister Viktor Orban said as he gears up for a tightly-contested election due in less than a year.The scheme was announced as the nationalist Orban's Fidesz party prepares for next year's vote while also facing unusually strong economic…
The Prime Minister will report on the details later.
Viktor Orbán announced on his Facebook page that it will be possible to take out a 3 percent preferential loan to buy your first apartment or house. The Prime Minister will announce the details soon, but the post reveals that the loan is available to everyone.
Hungary’s big housing push: Cheap loans with 10% down, student hostel plans
The government’s Home Start programme marks a “big step forward” for young Hungarians seeking to buy their first home, Gergely Gulyás, the head of the Prime Minister’s Office, said at a weekly press briefing on Thursday. Home Start programme Gulyás said the programme, without precedent in recent memory, would launch in September. It will offer first-time home buyers subsidised loans up to 50 million forints (EUR 125,000) with a fixed rate of 3 p…
The maximum loan amount that can be applied for is 50 million forints, the maximum term is 25 years, and the minimum deductible is 10 percent.
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