Panyi said the threshold was raised after talks with property market experts, banking sector insiders and property developers.
The price threshold for homes in multi-dwelling buildings will remain at HUF 100 mln, he added. Panyi said banks had told the government they would be ready for the program’s rollout on September 1.
The Home Start Program will offer first-time home buyers, regardless of age or family status, subsidised loans up to HUF 50 mln with fixed rates of 3%.
In an interview with public radio broadcast on Sunday, Panyi said monthly repayments on a HUF 25 mln, 25-year Home Start loan would be around HUF 120,000, well under the HUF 185,000-190,000 for a market-priced loan.
He noted that Home Start credit could be combined with other government home purchase support, such as a scheme for couples who pledge to have children.
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