Hungary To Expand Home Purchase Subsidies

  • 26 Oct 2018 8:55 AM
  • Hungary Matters
Hungary To Expand Home Purchase Subsidies
The government has decided to raise home purchase subsidies (CSOK) available for families raising two children to 10 million forints (EUR 31,000), the head of the Prime Minister’s Office said at a regular government press briefing.

Earlier, 10 million forint loans were available only to families with three or more children. The credit limit for families with three children will be raised to 15 million forints, Gergely Gulyás said.

The funds freed by the government’s decision to phase out state subsidies to home savings accounts earlier this month will be regrouped to support the CSOK system, Gulyás said.

The government aims to implement the new regulations this year, he added. Further measures regarding family home subsidies will be decided after the government’s planned national consultation survey on the subject.

Decisions on the survey will be announced later this week, Gulyás said. The government is mulling extending the preferential 5% VAT on home purchases, which was set to conclude by the end of the year, Gulyás said.

Related articles: 
Hungary To Phase Out Subsidies On Home Savings Bank Deposits
Government Home Purchase Subsidy Scheme Has Helped 240,000 People So Far

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