NEST-BUILDING PROGRAMME ALREADY FAILING

The so-called ’Nest-building’ programme which wanted to help the housing problems of young people was started a month ago. While the government website of the programme has been visited by many thousands, so far only 152 applicants could make a contract with the banks.

Experts claim the housing programme has failed as with the present practice 1981 similar contracts could be concluded within a year but even in the case of all applications received so far would be accepted, only 7104 contracts could be expected. In the housing programme of the Orbán government nearly 300 000 Hungarian citizens and families participated. The Socialist government had similar expectations but now they mention only a number of 25-30 000 successful applications. The most problematic point of the contracts seems to be the fact that the monthly HUF 80-100 000 instalments are too high for most people while the legal process can raise the price of the real estates by an additional HUF 1-1,5 million.

Translated by Péter Szentmihályi Szabó