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Hungary launches low-interest housing loan program for first-time buyers

Hungary launches low-interest housing loan program for first-time buyers

Budapest Times13 hours ago
Minister Gergely Gulyás explained that the initiative targets those aged 18-40 who haven't previously owned residential property and have had social insurance coverage for at least two years. The program includes price caps: HUF 100 million per property and HUF 1.5 million per square meter. A HUF 20 million loan would translate to a monthly payment of HUF 94,000, while a HUF 50 million loan would mean a HUF 237,000 monthly payment. The scheme is set to launch in September, with banks already preparing to sign contracts.
Prime Minister Viktor Orbán called the initiative a major step for young people, stating it would be available 'to anyone, anywhere.' Furthermore, the program is separate from existing family-based benefits and can be combined with them.
The government also addressed other key issues. Minister Gulyás reaffirmed Hungary's opposition to Ukraine's accession to the European Union and NATO, citing public consensus and strategic considerations. He noted increasing pressure from Brussels and Kyiv but reiterated Hungary's stance: EU enlargement should follow NATO accession to preserve security.
On climate resilience, the government confirmed that the drought defense task force remains active, backed by HUF 4.7 billion in support and HUF 10 billion in free irrigation water for farmers. Despite EU opposition, this measure will continue.
Additionally, Government Spokesperson Eszter Vitályos praised astronaut Kapu Tibor's space mission, calling it a national achievement. She also highlighted that from July 1, the family tax benefit has increased by 50 percent, with another raise scheduled for January.
The government stressed that these policies aim to maintain political stability and social support while navigating external pressures, particularly concerning EU policies and enlargement strategy.
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