According to MTI, Gulyás said the programme, without precedent in recent memory, would launch in September.
It will offer first-time home buyers subsidised loans up to HUF 50 mln with a fixed rate of 3% for the full maturity, up to 25 years, he added.
Down payments for borrowers will be set at 10%, while home prices will be limited to HUF 100 mln and HUF 1.5 mln/sqm, excluding any “luxury properties”, he said.
There is no age limit for the credit, and borrowers will not be required to be married or commit to having children, but they must have paid social security contributions in Hungary for at least two years, he added.
Gulyás noted that 80% of Hungarians over the age of 40 own their own homes, but that rate stands at just 40% for people between the ages of 18 and 40.
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