Latest news with #MiklósPanyi
Budapest Times
22-07-2025
- Business
- Budapest Times
State Secretary: Home Start programme could support ‘normalisation or even reduction' of rental rates
State Secretary Miklós Panyi said 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. In a talk on the Home Start Programme with Gergely Gulyás, 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.
Budapest Times
11-07-2025
- Business
- Budapest Times
Home Start to help young Hungarians purchase their own home
State Secretary Miklós Panyi said the Home Start Programme, a recently announced scheme offering subsidised credit to first-time home buyers, could help tens of thousands of young Hungarians purchase their own home. From September, the government will offer first-time home buyers loans of up to HUF 50m with fixed rates of 3pc. The loans will be available to first-time home buyers regardless of age or family status. After talks with the Hungarian Banking Association on Tuesday, Panyi said the banking association was involved with the drafting of the scheme, but there were still more details that needed to be hammered out. Work on fleshing out the rules for the credit is underway, he added. Anna Florova, who heads the banking association's retail lending working group, noted that subsidised credit accounted for 20-25pc of home loans at present. She said that commercial banks were eager to participate in the Home Start Programme and were getting ready for the scheme's launch on September 1. Panyi said instalments on Home Start loans could be even lower than monthly rents.
