search

City/District
PRICE
PRICE
-
Bedrooms
city/keyword
search
detailed search
type
size
size
- sqm
Floor
View
extras
search
simple search
March 17th, 2016

Families with children can benefit most from the Hungarian Government Support Family Benefit – CSOK - Program

 

There are a great number of families interested in the Government Support Family Benefit (CSOK) program, however, just a few of them are eligible to apply or decide to hand in the loan applications.

 

 

 

 

 

On the basis of actual experiences the vast majority of the refusals of loan demands have failed for these reasons:

  • lack of registered employment
  • the risk of the advance promise of having children
  • the prerequisites of the + 10 million loan
  • the high price of new-build apartments  

 

Few plans for couples to have kids

 

Legal conditions show that the aim of the government was to raise the number of families opting to have more children whereas the CSOK program is primarily beneficial for families that already have children. As specified in the statement of the Bank Committee only one third of the applicants decided to have one or two children.

 

In case of couples already with kids the conditions are more favourable

  • there is no maximum age criteria for the benefit
  • even widows and divorced can apply for it
  • the risk of the accomplishment is greatly reduced

 

Speculative real estate investing

 

The other aim of the government with the CSOK program is to increase the building sector in Hungary. The examined construction companies, however, count only 3500-4000 plus new residential apartments yearly, which is a little to boost  the construction industry and the real estate market. Large investments and European Union funds would be definitely needed to achieve this. Moreover, the ongoing investments are not private participations but in most cases speculative construction investments. Despite the prior promises generally the support is too low to buy a new-build apartment and the benefit cannot be claimed for renovations only for enlargements, which might be an ever bigger problem. 

 

 

(Source: http://www.atv.hu/belfold/20160306-csok-ingyenmilliok-es-mas-mellekhatasok, by the editor of the blog ”CSOK Otthonteremtési Kedvezmények”)

 

 

Interested in buying a property in Budapest?

Interested in buying a property in Budapest?

Contact us to get a tailor made investment advice from the Budapest market specialist.

 

Send Enquiry

Subscribe to our mailing list

Tower Investment
Contact Us Now on Phone or via Form

H-1137 Budapest, Pozsonyi út 1.
Tel.: +36 1 808 9090
info@tower-investments.comwww.tower-investments.com

© 2019 Tower Investments | All rights reserved
Prices of apartments are indicative only. Pricing and availability should be confirmed with Tower International.

Softexit

Searching for the Best Property Service?

Contact us today and let us guide you in the Budapest real estate market!

  • Trusted by 4000+ clients
  • More than 15 years of experience
  • Leading Property Experts for Foreigners

“I’ve managed to restaure and sell a flat in Budapest. Tower was the most professional and I was happy of my choice.”
- Maximilien

“They have very dedicated, thoughtful and professional staff”
- Hoáng

Excellent personal service, efficient and friendly. Highly recommended for buying real estate.”
- Ian