Govt submits bill on new national asset management company

History

Hungary’s government has submitted a bill to Parliament on the National Asset Manager Company (NET), established to buy the homes of troubled borrowers and allow them to continue to reside there as renters until their financial position is consolidated and they can repurchase the properties.

NET was established by government decree at the end of August. The bill outlines its tasks and the conditions for its activities.

The state will buy 5,000 homes through NET by the end of 2014, paying 35-55% of market value depending on location, the government said earlier.

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