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Thousands apply for new home purchase subsidies

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Thousands of applications for the Hungarian governmentʼs new home purchase subsidies for families with children (CSOK) have been submitted to lenders, Hungarian news agency MTI reported on Saturday.

Some 800 applications have been submitted to OTP Bank, Hungaryʼs biggest commercial lender, since the programʼs launch in January. So far, 42 applications have been made for the HUF 10 million grant and HUF 10 mln loan available only to families that have, or commit to having, three children, while 70 applications have been received for VAT refunds for Hungarians building their own homes. 

About 21,000 people have asked for information about the home purchases subsidies, and one-fourth of these were interested in the HUF 10 mln grant and HUF 10 mln loan.

Throughout 2016, OTP expects 20,000 applications for HUF 1.5 mln in subsidies apiece on average. Applications submitted by clients buying new homes could account for 10-20% of the total, and applications by families with three or more children for 1-4%.

Takarékbank said that about 2,000 applications for the subsidies had been submitted at savings cooperatives.

MKB Bank has received fewer than 100 applications for the subsidies, mainly for resale homes.

FHB Bank has accepted more than 200 of the applications, and almost 85% were for resale homes. More than one-third of the applications were for homes in Budapest and the surrounding Pest County.

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