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Over 50,000 applications for home purchase subsidies

Analysis

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More than 50,000 applications have been submitted for funding under the governmentʼs expanded Home Purchase Subsidy Scheme for Families, known by its Hungarian acronym "CSOK", state secretary from the Prime Ministerʼs Cabinet Office Csaba Dömötör said on Friday.

Applicants have asked for HUF 136 billion of funding in total, he added. Ministry for National Economy state secretary Ágnes Hornung said with the number of home constructions increasing, they could lift GDP by 1% this year and by 1.5% next year.

Hornung said a comprehensive review of the CSOK subsidies is under way, there are talks about how to make funding even more accessible for families and how constructions could continue to boost the economy.

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