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HATC SAMPLE EDITION:
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3rd July, 2025
Orbán announces 3% mortgage for first-time buyers
Prime Minister Viktor Orbán announced a new scheme for those buying their first home, based on a mortgage rate of 3%.
A post uploaded to his Facebook page as the cabinet met on Wednesday said “Government decision: 3% preferential loan for the first flat or house. For anyone. Anywhere. Details soon!".
Portfolio notes that the measure raises numerous questions, adding that the details will define its economic impact.
Of particular interest, the website remarks, is the source of financing the gap between the fixed 3% and market rates.
In his Facebook video, Orbán said that in the "home creation loan programme", loans of up to Ft 50 million can be taken out for a 25-year term, with an interest rate of 3% throughout the term, and a 10% down payment from the buyer’s own resources.
Orbán said in the video that in the past few years, property prices have soared in Hungary, which may be good news for those who own their home, but many people have not yet been able to buy or build their first home.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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