Hungary to Introduce New Subsidy Scheme for Home Purchases
The government of Hungary has announced the launch of a new home purchase subsidy scheme called CSOK Plus, aimed at assisting couples in buying their first home. The scheme was introduced by János Csák, the minister of culture and innovation, during a government press briefing on Wednesday.
Under CSOK Plus, eligible applicants are settlements with populations exceeding 5,000 citizens. The loan scheme offers different loan amounts based on the number of children in the family. Couples raising one child can obtain a loan of HUF 15 million (equivalent to EUR 39,000), while families with two children can receive a loan of HUF 30 million (equivalent to EUR 78,000). For families with three or more children, the loan amount increases to HUF 50 million (equivalent to EUR 130,000). The interest rate for these loans is set at a favorable 3%.
This new initiative aims to provide financial assistance to couples who are trying to purchase their first home. By offering substantial loans at a low-interest rate, the government hopes to make home ownership more attainable for families, especially those with children.
CSOK Plus comes as part of the government’s efforts to support citizens in their pursuit of homeownership and to boost the housing market. The scheme will specifically target communities with larger populations, ensuring that more families across the country can benefit from this subsidy.
The introduction of CSOK Plus is a positive step towards providing economic relief to couples looking to buy their first home. By easing the financial burden associated with home purchasing, the government is helping create a more stable and secure future for families in Hungary.
