Bloomberg News

Hungary to Offer Interest Rate Subsidies, Grants in Home Plan

October 12, 2011

Oct. 12 (Bloomberg) -- Hungary has earmarked 6.5 billion forint ($30.6 million) in the 2012 budget for interest-rate subsidies and non-repayable state grants to families wishing to purchase homes, Economy Minister Gyorgy Matolcsy said.

The state will pay a one-time aid to families with at least two children, where one of the parents is employed, for purchasing or building homes, Matolcsy said at a press conference in Budapest today. The size of the grant will depend on the number of children in a family, he said.

The government expects as many as 5,000 families applying for interest-rate subsidies on mortgage loans in 2012, the minister said.

To contact the editor responsible for this story: Edith Balazs at ebalazs1@bloomberg.net


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