Number of home loans rises dramatically in H1
Banks gave out HUF 213 billion in home loans in Hungary in the first half of this year, a significant increase over the HUF 134 billion given out in the same period last year, Hungarian National Bank director Gergely Fabian said on M1 TV last night, according to MTI.
Home loans were especially brisk in the second quarter of this year, when HUF 129 billion was given out, MTI reported. The total stock of home loans held by Hungarian households at the end of the first half of the year was HUF 2.970 trillion, which was still HUF 40 billion lower than the figure for the end of 2015, MTI said.
Fabian reportedly said the increase in home purchases could be put down to the government’s CSOK program, which is designed to encourage families to build or buy homes and was altered in February. The program gives families who qualify subsidies of up to HUF 10 million, as well as low-interest loans of as much as HUF 10 million, for the purchase or construction of a new home.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.