Rental rates in the capital increased 6.7pc.

In a month-on-month comparison, home rental rates were up 1.3pc nationwide and edged up 1.4pc in Budapest.
 

There were 16,000 listings for rentals in Hungary in mid-July, up 15pc from a year earlier.

Home Start programme could support 'normalisation' of rental rates - state secretary

A subsidised credit scheme for first-time home buyers could boost the rate of owner-occupied residential property in Hungary, supporting the "normalisation or even reduction" of rental rates, state secretary Miklos Panyi said in a talk on the Home Start Programme posted on social media.

In the talk with Gergely Gulyas, the head of the Prime Minister's Office, Panyi said the Home Start Programme could give people looking for investment real estate an incentive to put their money elsewhere, causing the market to "cool".

The programme, set to launch on September 1, will offer all first-time home buyers, regardless of age or family status, a 3pc fixed-rate loan up to HUF 50m for the purchase of flats in multidwelling units up to HUF 100m and detached homes up to HUF 150m. The down payment for borrowers is set at 10pc.

Panyi said that ownership of real estate with a value under HUF 15m or of a part of a home, up to 50pc, would not exclude potential borrowers from the Home Start Programme.

 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

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