Are you sure?

Hungary: Home sales likely to rise

A plan by Hungary’s next government to suspend home purchase state subsidies from July 1 is likely to cause an increase in home purchases in the coming months followed by a decline in the second half, brokerage Otthon Centrum told MTI on Wednesday

The plan to suspend the subsidies for new home loans from July was part of a program announced a week ago by nominee for prime minister Gordon Bajnai.

Under normal circumstances, an announcement such as Bajnai’s would cause a surge in home purchases, but the increase will be muted by the crisis, Otthon Centrum said. About one-fifth of Hungarian home buyers have taken advantage of home purchase subsidies. (MTI-Econews)