Viktor Orban made a major announcement on his social media page regarding the results of the government meeting. While Hungary's Prime Minister did not yet reveal the details, it is certain that the new decision will provide significant help not only to young people but to everyone who does not yet own a house or apartment.
The government decision: A 3% preferential loan for first home purchases,
PM Orban announced, adding that anyone, anywhere in the country can apply for it.
“In recent years, property prices have increased significantly in Hungary. While this may be good news for the many families who already own their homes, there are many who have not yet been able to secure, purchase or build their first home. This new support will be available to anyone looking to buy their first house or apartment,” the Prime Minister explained.
He revealed that the property can be located anywhere, from the smallest village in the country to Budapest, with no age limit for applicants.
Applicants will be able to borrow up to 50 million forints (approx. €127,000) at a fixed 3% interest rate for the entire term, which can be up to 25 years, with a 10% down payment required.
“This is significant support because current market interest rates are high, between 6.5% and 8%,” Viktor Orban emphasized.
And we are not stopping here. On September 1, we will launch the next program, which will offer opportunities for those looking to renovate their homes, and we hope it will help hundreds of thousands of families as well,
the Prime Minister stated.
Magyar Nemzet previously reported that the Prime Minister had already foreshadowed on the “Fighters’ Club” social media page information that the government has been working on new measures in support of young people’s home purchases.
On Thursday at 10 a.m., a Government Info press briefing will be held to report on these governmental decisions. Our colleague will be present at the briefing. Follow our online edition for live coverage.
