Miklos Panyi said on Facebook regarding the fixed 3 percent loan that many left-wing commentators and opposition party leaders were warning that this would increase real estate prices by as much as 20-40 percent.

Panyi countered that there are over 100,000 properties for sale in Hungary that qualify for the programme, in rural areas, in large cities, and in Budapest. In addition, many thousands of properties will enter the real estate market that have not been offered for sale until now because there were no buyers, he said.

Panyi also noted that over 10,000 home developments targeting first-time buyers will start in Budapest in the autumn, significantly expanding supply, and that eligible properties in the scheme have a price limit of 100 million forints for apartments and 150 million forints for houses. 

Details of Home Start scheme cleared up at talks

Details of the Home Start subsidised credit scheme for first-time home buyers were cleared up at talks with representatives of the Hungarian Banking Association on Friday, state secretary Miklos Panyi said in a post on social media.

Panyi highlighted the importance of a cohesive understanding of the rules for the 3pc fixed-rate programme to ensure its smooth rollout on September 1.

He added that the government and banking sector experts had clarified a number of issues related to the scheme at intensive talks in recent weeks, while guidelines for communicating those rules had been drafted.

Panyi said government agencies would offer the full range of support to accelerate the application process and disbursements.


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.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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