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Analyst: Effects from home subsidy revamp not immediate

Analysis

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No immediate increase in demand is expected in the housing market as a result of the revisions to the home subsidy system, since fulfilling the criteria for subsidies is somewhat complex, MKB analyst Ákos Kuti said on state-owned all-news channel M1 yesterday.

In December the government modified the system of home purchase subsidies, offering a HUF 10 million grant for the purchase of a new home for families who commit to having three children over ten years and complemented this with an additional HUF 10 million preferential loan.    

Kuti said interest towards the new system is strong; MKB bank had more than 10,000 clients asking for details, and some applications have already been accepted.

According to the analyst, the revisions to the home subsidy system substantially boosted preliminary works in the construction sector but it wonʼt be until the second half of the year that new projects appear on the market.

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