In a talk on the Home Start Program posted on social media with Gergely Gulyás, the head of the Prime Minister’s Office, Panyi said the Home Start Program could give people looking for investment real estate an incentive to put their money elsewhere, causing the market to “cool”.
The program, set to launch on September 1, will offer all first-time home buyers, regardless of age or family status, a 3% fixed-rate loan up to HUF 50 mln for the purchase of flats in multidwelling units up to HUF 100 mln and detached homes up to HUF 150 mln.
The down payment for borrowers is set at 10%.
Panyi said that ownership of real estate with a value under HUF 15 mln or of a part of a home, up to 50%, would not exclude potential borrowers from the Home Start Program.
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