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Gov't Awards HUF 620 bln in Home Renovation Subsidies

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The government has awarded HUF 620 billion in home renovation subsidies to 295,000 families in the framework of a two-year program that wound up in December, the Hungarian State Treasury told state news wire MTI.

The Treasury noted that over 100,000 applications for the subsidies arrived in a last-minute rush in December

The government offered to cover up to half of home renovation costs, with a grant capped at HUF 3 million, for families with at least one child. Families could take out a subsidized loan to cover the other half of project costs.

The average subsidy awarded in the framework of the scheme was HUF 2 mln, the Treasury said.

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