Over 27,000 families in villages apply for home purchase subsidies

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More than 27,000 families with children who live in Hungary's smallest communities have applied for close to HUF 149 bln in funding available under a scheme supporting home purchases, renovations, and expansions since its launch in 2019, state secretary for families Róbert Zsigó said, according to a report by state news wire MTI.

The program, part of the Home Purchase Subsidy Scheme for Families (CSOK) available to all Hungarians with children or planning families with children, offers residents of villages with populations under 5,000, where the rate of depopulation exceeds the national average, subsidies of between HUF 300,000 and HUF 5 million for home renovation and HUF 600,000 to HUF 10 mln for home purchase and/or renovation. It was launched on July 1, 2019.

Around 54% of the village CSOK applications have been for expansions or renovations tied to home purchases. The average award for these applications was HUF 7.7 mln.

Awards for the rest of homeowners' applications for support for renovations or additions have averaged HUF 2.8 mln.

Around 61% of applicants have or are planning to have three or more children.

Zsigó said some 200,000 families have availed of CSOK support since the scheme's launch in July 2015. The program - an element of the government's strategy to reverse depopulation in Hungary - has contributed to the birth of over 100,000 children, he added.

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