Demand for home purchase subsidies grows

Awards

pixabay

The number of applications for the newly introduced home purchase subsidies for families with children has grown since February, following the fine-tuning of the rules for grants and preferential credit, lenders told Hungarian news agency MTI.

The MKB Bank said more than 100 clients have applied for the subsidies, mostly for the purchase of resale homes. But it added that, in many cases, clients had to forgo purchasing the homes they wanted because of the marked rise in prices. 

The introduction of the subsidies drove prices up early in the year, which is likely to lead to a drop in demand and a re-evaluation of pricing by sellers as well as a pickup in demand in the second half of the year, the lender said.

Budapest Bank also said that the number of applications for the subsidies had risen since February and that it was getting several dozen a week now.

UniCredit Bank said it had received more than 200 applications for the subsidies since the beginning of February. About 80% of the applications are for resale homes, it added.

Takarékbank said clients had submitted more than 700 applications between January and the end of March, though only 30 applied for the grant and loan package available only to families with three or more children. It also noted strong demand for homes, especially in central Pest County and in the northeast of Hungary.

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.