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More than 100,000 Families Avail of CSOK Home Purchase Subsidies

MTI-Hungary Today 2019.04.26.

More than 100,000 families have taken advantage of the government’s CSOK housing subsidy scheme since its introduction in July 2015, the state secretary for youth and family affairs said on Friday.

Families have availed of some 300 billion forints (EUR 931m) in grants in the framework of the scheme, Katalin Novák told reporters in Budapest.

Calculating with an average of four people per household, the subsidies have helped some 420,000 people, she said.

Govt: Fiscal Cost of Family Support Measures to Reach 0.3pc of GDP in 2019

Novák noted that under the government’s family protection action plan, from July, families can avail of a preferential loan which can be used for buying second-hand homes.

Under the plan, couples who have or commit to having two children are eligible for 10 million forints and couples with three children for 15 million forints in preferential loans, she said.

Rate of Population Decline Increases

Novák noted that the state will pay 1 million forints of the principal of mortgage loans of families after the birth of their second child. After the birth of a third child, it will pay 4 million, and 1 million forints after the birth of each subsequent child.

In the featured photo: Katalin Novák. Photo by Zsolt Szigetváry/MTI