It is mainly investment buyers who are boosting demand for new residential properties.Continue reading
The government has approved a three percent home loan program, and anyone who wants to buy their first apartment or house can take advantage of the new subsidy, Prime Minister Viktor Orbán announced on his Facebook page during a break in the cabinet meeting on Wednesday.
In a video posted on his social media page, the Prime Minister noted that real estate prices in Hungary have skyrocketed in recent years. “Most families, of course, live in their own homes, and this may be good news, but there are many who have not yet been able to buy or build their first home,” he added.
The head of government announced that anyone who wants to buy their first home or house can take advantage of the new subsidy.
The property can be located anywhere, from the smallest village to Budapest, and there is no age limit, although, as is the norm, it is more beneficial for young people,”
the Prime Minister explained.
Viktor Orbán shared the details of the scheme:
This is a significant subsidy, because today’s market interest rates are high, at 6.5-8 percent, and this is less than half of that,”
he noted.
Orbán indicated that they will not stop there, and on September 1, they will launch the next program, providing opportunities for home renovators, “hopefully for hundreds of thousands of families.”
Via MTI, Featured image: Pexels