Hungarian government to give families even EUR 322,000 to build greener homes!

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Who said that the Hungarian government is not generous with the Hungarian families? Now, they shared the details of their latest real estate building and development program concerning green technologies and energy saving real estate.

Based on the calculations of portfolio.hu, a Hungarian financial and business news site, Hungarian families, who already have or plan to have at least three children, can get 42 million HUF (EUR 117,657) allowance and 73 million HUF (EUR 204,500) soft loan to buy or build a new green home. That makes more than 322 thousand EUR If a family with three children can have and invest in Hungary.

In the case of the families with two children, this sum goes down to 20+80 million HUF (EUR 280 thousand), while it is “only” 93 million HUF (260 thousand EUR) if a family has or plans to have one kid.

The Hungarian government provides, currently, the following allowances and soft loans to the families in Hungary:

  • the CSOK (family housing subsidy) scheme including a non-refundable and a refundable part with only a three pc interest rate. If you already have or promise to have at least three children, the maximum for the former is 10 million HUF (EUR 28 thousand), while the latter is 15 million HUF (42 thousand EUR).
  • Subsidised “baby loans” that target young married couples in the first place, who commit to having (more) children. Under the scheme, married resident women aged 21-41, along with husbands, are eligible for a maximum HUF 10 million general-purpose loan. That loan will become interest-free after the first child, while 1/3 will be abolished after the second, and the whole sum will become non-refundable after the third child.
  • Rural CSOK, where 600,000 forints (EUR 1,890) is available after one child, 2.6 million forints (EUR 8,200) after two and 10 million forints (EUR 31,530) after three. Interestingly, the support can also be used to buy, expand and revamp homes in villages under 5,000 residents.

  • In 2021 January, the government started a home revamp scheme with a government-supported interest rate of 3 pc.

  • In 2021, several additional elements of the CSOK scheme was introduced, including subsidising loft conversion and installation or refunding the tax of house building.

  • From October 4, the Green Home Program is also available, including green CSOK-loans, which is 10 million HUF (EUR 28 thousand) for families having or planning to have 2, and 15 million HUF (EUR 42 thousand) for families having or planning to have three kids. The interest rate is 0 pc on that. Besides, there is an additional 55 million HUF (154,000 EUR) with a state-subsidized 2.5 pc interest rate.

If somebody is bold enough

to take up all the available loans and subsidies and commits to having three children and green home, they are eligible to get even 322 thousand EUR from the state, of which 117,600 is non-refundable. That would mean an almost 300 thousand HUF (EUR 840) instalment monthly.

Source: portfolio.hu,

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