Latest news with #HomeStartProgram
Budapest Times
a day ago
- Business
- Budapest Times
Koncz: Hungary undergoing a family-friendly tax revolution
Hungary is undergoing a 'family-friendly tax revolution,' according to Zsófia Koncz, State Secretary for Families at the Ministry of Culture and Innovation. Speaking on M1 television Tuesday morning, she highlighted the government's continued expansion of family support measures since 2010. Koncz emphasized the exceptional scale of the latest changes. In July, the first phase of the family tax allowance doubling began, with eligible parents receiving the increased benefit in their August pay. Also in effect since July is the new 'CSED extra' scheme, allowing mothers to return to work after 90 days while still receiving 70 percent of the childcare benefit. From 1 October, families with three children will become exempt from personal income tax (PIT), with similar tax relief for two-child families and mothers under 30 set to begin in January. 'The government supports families in all life situations, ensuring parents have freedom of choice,' Koncz stated. She also discussed the Home Start Program, calling it a key pillar of the family support system. A related government decree is currently under public consultation to ensure the program can be combined with other homeownership schemes. Addressing concerns about price inflation, Koncz noted the introduction of a HUF 1.5 million per square metre price cap to prevent speculative increases. Home Start loans can be used for both home construction and purchasing pre-owned properties, she confirmed. In a separate interview on Kossuth Radio, Koncz said the scheme is clearly aimed at young people, who are already supported through PIT exemptions for under-25s and access to work-based loans.
Budapest Times
2 days ago
- Business
- Budapest Times
Housing market demand hits 3-year high ahead of Home Start Program
Demand in Hungary's housing market reached a three-year high in July, driven largely by anticipation surrounding the upcoming Home Start Program, according to data released by on Sunday. The platform recorded over 284,000 phone inquiries in July, surpassing figures from the same month across 2022 to 2024. Monthly demand grew by 14–39 percent across counties, particularly in regions where previously high prices had suppressed interest. This uptick was supported by an expanding supply, driven mainly by owners hoping to move. 'A market turnaround is likely, with strengthening expected in the coming months,' stated. Chief economic expert László Balogh noted that prospective buyers who had postponed entering the market are now acting to get ahead of the expected demand surge. The announcement of the Home Start Program also stimulated interest in property purchases through its impact on the rental market. In regional university cities like Szeged, Pécs, and Debrecen, demand for rental units rose by 25–30 percent following university admissions announcements. In contrast, Budapest saw no typical seasonal spike, as many parents now consider buying instead of renting, thanks to the program's financial benefits. In some cities, mortgage payments may even undercut monthly rents. The strongest monthly increase in buyer interest was in Szabolcs-Szatmár-Bereg County, where inquiries rose 39 percent. Győr-Moson-Sopron saw a 37 percent rise, and both Pest and Vas Counties posted 36 percent gains. Supply also grew in July, with over 30,250 residential properties listed on the site, reflecting a 2–3 percent monthly and annual increase. According to Balogh, listings may continue to rise in August, but from September, demand linked to fixed 3 percent interest rates could result in faster sales, stabilizing the number of visible listings.
Budapest Times
3 days ago
- Business
- Budapest Times
Orbán: My home is my castle – that is freedom, that is security
In his regular interview on Kossuth Radio, Prime Minister Viktor Orbán emphasized the government's renewed push for homeownership and strategic autonomy, while strongly criticizing a recent EU-U.S. trade deal he called economically and politically disastrous. The conversation moved through domestic reforms, international challenges, and Hungary's concrete steps to shield its economy and citizens. Opening the interview, PM Orbán addressed the new Home Start Program, which offers a 3 percent fixed-rate housing loan for first-time homebuyers. He framed the initiative as a national response to global uncertainty. 'There's upheaval in the world—from Covid to war to technological change—and in such times, the greatest anchor in life is a home, the place where your family lives,' he said. Contrasting European housing philosophies, he said Hungarians view property differently. 'In some countries, renting is enough. But Hungarians think a home should be one's own. My home is my castle. That is freedom, that is security,' the prime minister explained. He characterized homeownership as a foundation for family life and personal dignity: 'You're not a 'vagrant' if you own a home.' The conversation then turned to Europe's position on the global stage, with PM Orbán launching a scathing critique of the European Commission's recent tariff agreement with the United States. He said the Commission, led by Ursula von der Leyen, made unauthorized commitments that fall outside its jurisdiction, such as promises to increase EU energy imports from the U.S. and invest hundreds of billions of euros overseas. 'Brussels doesn't buy a single cubic meter of gas, member states do,' he stressed. 'I did not authorize her to make such a deal, and I don't believe other prime ministers did either.' He added that the agreement includes secret clauses, including financial obligations for Ukraine's armament, without EU-wide consent: 'Nobody asked me if we want that.' Calling the deal 'an economic own goal,' PM Orbán highlighted the potential impact on Hungarian exports. He estimated that the new 15 percent U.S. tariff could affect around $11 billion worth of goods flowing from Hungary to the U.S., either directly or indirectly, amounting to $1.5 billion in losses. In response, the government is developing two action plans: one to protect industrial production and another to secure jobs. 'We must prevent companies in Hungary from reacting with layoffs or closures. If they do, we must be ready to step in immediately,' he said. Ministers Péter Szijjártó and Márton Nagy have been authorized to begin talks with major exporters and the Chamber of Commerce to coordinate next steps, the prime minister added. While the interviewer noted how EU leaders were recently snubbed in China, PM Orbán attributed such diplomatic embarrassments to European weakness. 'We're loud, we lecture others, but when it comes to negotiations, we show no strength or skill. It's the worst possible combination,' he remarked. Concluding the interview, Prime Minister Orbán expressed deep dissatisfaction with the current EU leadership. 'This is a fiasco. They should pack up, thank everyone for the trust, and go home.'
