Daily News Hungary economy

Hungarians who enjoy the government’s family housing support (csok) will be exempted from paying tax on the purchase of a property, Katalin Novák, the minister for family affairs, said on Facebook on Tuesday.

In a video message, she said the tax holiday could save families 2 million forints (EUR 5,500) in stamp duty on a house or flat worth 50 million, and 15.5 million altogether with a VAT rebate.

Novák urged people to take advantage of the opportunity.

Last Wednesday Novák said, the government is launching a scheme for subsidising home renovations carried out by households with at least one child, details HERE.

As we said a few weeks ago, the VAT rate on home building carried out before December 31, 2022 will revert to 5 percent in Hungary.

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