By the end of 2014, the number of homes offered under the NET programme will reach 25,000, National Development Minister Zsuzsanna Németh said.

Under the programme, the National Asset Management Agency (NET) is buying foreclosed properties designated by banks and allowing the borrowers to continue to reside in their homes as tenants. NET buys the homes for 35-55% of market value and tenants pay on average 8,500 forints monthly rent.

The former owners can buy their homes within five years. Németh said most of the homes had been offered in the eastern part of the country.

Source www.hungarymatters.hu

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