Large families make up one-fifth of CSOK applications

Families with three or more children account for one-fifth of applications for the government’s home purchase subsidy scheme for families (CSOK), the daily Magyar Idők said on Wednesday.

The government launched the scheme which awards subsidies and preferential credit for home purchases to families with children late in 2015. Large families are eligible for grants up to 10 million forints (EUR 32,000) as well as preferential loans. They have been awarded 104 billion forints in CSOK grants so far, or 56 percent of the 184 billion total, the Economy Ministry told the paper.

Application numbers for the scheme have risen each year, climbing from 10,400 in 2015 to almost 26,000 in 2016, and about 30,000 in 2017.

Of the applications submitted since the start of 2016, almost two-thirds were for the purchase of resale homes and one-third were for new homes. Due to the higher price of new homes, the latter applications accounted for 68 percent of the subsidies awarded. A fraction of applications were for extensions to existing homes.

Source: MTI