Latest news with #OtthonStart
Budapest Times
3 days ago
- Business
- Budapest Times
Zsófia Koncz: 343 thousand families supported through CSOK plus, rural CSOK and baby-expecting loan
Zsófia Koncz, State Secretary for Families at the Ministry of Culture and Innovation, announced on Tuesday that the CSOK Plus, rural CSOK, and baby-expecting loan have helped 343,000 families achieve their housing goals in recent years. In a Facebook video, she highlighted that these government programs remain highly popular, providing substantial support for home purchases, construction, or expansion. From September, the new Otthon Start program will launch, offering a fixed 3% interest loan for first-time buyers, with repayments unchanged for up to 25 years. Koncz stressed that the new loan can be combined with existing family support measures, including the baby-expecting loan, CSOK Plus, and rural CSOK. Under the changes, the property value limit for a first jointly owned home purchased with CSOK Plus rises from 80 million forints to 100 million for apartments and 150 million for houses. She added that the combination of CSOK Plus and rural CSOK benefits—such as exemption from property transfer tax and VAT refunds—maximizes opportunities for families. The related government decree has undergone public consultation, with feedback now being reviewed. Family organizations welcome the fixed 3% loan, calling it the most significant home creation program since the democratic transition, Koncz said, noting it will aid not only home acquisition but also family formation and childbearing.
Budapest Times
07-08-2025
- Business
- Budapest Times
Government Info: Home Start ushers in new era for young homeowners, as government moves to shield jobs and industry
Minister Gergely Gulyás called Hungary's new Otthon Start program the most significant homeownership initiative since the regime change, highlighting its economic and social impact at Tuesday's government press briefing. Joined by State Secretary Miklós Panyi and Spokesperson Eszter Vitályos, Gulyás said the scheme reflects a long-term commitment to supporting young people through stable housing, while responding to external economic threats with a parallel job and industry protection plan. The program, launching 1 September, offers first-time buyers up to HUF 50 million in loans at a fixed 3 percent interest rate over 25 years, with just 10 percent self-financing required. Eligible properties must fall under a HUF 100 million cap for flats or HUF 150 million for houses, and meet a price ceiling of HUF 1.5 million per square metre. 'Even with average wages and little savings, young people can now take the first step toward owning a home,' Gulyás said. 'We are not considering a rental scheme—this is about long-term stability through ownership.' More than 100,000 properties currently meet the program's criteria, with additional listings expected as previously withheld homes re-enter the market. Developers will be incentivized: housing projects with at least 250 units—70 percent of which comply with price limits—may qualify as strategic investments. The goal is to initiate 20,000–25,000 new housing projects that otherwise would not launch. According to Gulyás and Panyi, the program could lead to the construction of 50,000 new apartments and thousands of family homes over five years, generating up to HUF 5,000 billion in investment and creating jobs across the construction sector. A dedicated Program Office, digital tools, and close coordination with banks will support rollout. In parallel, Gulyás said the government is preparing a job and industry protection action plan following consultations with major companies affected by the EU-US trade deal. He criticized the agreement as harmful and unrealistic, citing concerns from Hungarian and regional stakeholders. Turning to foreign policy, Gulyás warned of growing instability in the Balkans, calling the conviction of Bosnian Serb President Milorad Dodik a destabilizing act. 'The Balkans won't find stability through Western intervention—but through its absence,' he said.
