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CSOK subsidies popular, but construction lags behind

Sustainability

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Some 46,000 applications for funding under the governmentʼs expanded Home Purchase Subsidy Scheme for Families, known by its Hungarian acronym "CSOK," were approved in January-August, although shortages of labor and materials spell delays in construction.

About two-thirds of the CSOK applications were for funding for new homes, with the total amount of funds applied for reaching almost HUF 143 billion, Ágnes Hornung, minister of state for financial affairs at the Ministry for National Economy, said at a conference organized by HG Média on Tuesday, national news agency MTI reported.

Talks are underway on how to give the market further impetus as well as better targeting the system of support for home purchases, she noted.

Hornung acknowledged a shortage of labor as well as building materials in the construction industry, noting that about one-fifth of home projects are behind schedule, but added that government labor market measures would help the situation.

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