Hungary Donates Homes to Charities

  • 29 Dec 2021 8:42 AM
  • Hungary Around the Clock
Hungary Donates Homes to Charities
The state is donating 4,620 homes to MR Közösségi Lakásalap, the joint venture of the Hungarian Maltese Charity and the Hungarian Reformed Church charity organisations.

The properties in question are listed in a decree published in official gazette Magyar Közlöny on Tuesday.

The law authorising the state property manager to donate to the joint venture homes it had purchased from banks who held failed mortgage loans was approved in June.

The property manager purchased 39,000 homes from the banks and sold 29,000 of them back to their former owners on favourable terms in 2018. Half of the remainder were reallocated in the summer.

MR will receive a Ft 6 billion subsidy to renovate the homes in 2022 and 2023 as well as an additional Ft 1.1 billion for maintenance.

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