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Share of 1st Time Home Buyers Climbs

Residential

Photo by Fabio Balbi / Shutterstock.com

The share of first-time buyers on Hungary's real estate market is on the rise, supported by lower interest rates, the economic upturn, and policy measures, real estate broker Duna House said on Tuesday, according to a report by state news wire MTI.

First-time home buyers accounted for one-fifth of transactions in the first quarter nationwide and for one-fourth in the capital, Duna House said.

The rate of first-time home buyers in Budapest nearly doubled in March from the same month a year earlier, it added.

First-time home buyers are allowed to pay as little as 10pc for their down payments thanks to a preferential loan-to-value limit threshold in force from the start of 2024, while the government's revamped CSOK Plus home subsidies scheme for families with children could also be driving demand, Duna House said.

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