The discussions aim to address inconsistencies in the housing market, particularly regarding the definition of floor area, which affects the maximum allowable price per square meter.
The government decree sets a gross HUF 1.5 million/sq m price cap as a condition for the loan, but neither the legislation nor building regulations provide a clear, consistent definition of “floor area.”
The legislator’s stated intention is to apply the most favorable interpretation for applicants, using the broader definition of “floor area” rather than “useful floor area,” thereby including all areas belonging to the property.
The program’s goal is to make preferential loans widely accessible to young people, families, and first-time homebuyers.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
