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Hungary says, families first!

May 08, 2017 - Zoltán Kovács

A nation’s strength lies in its people. Declining demographic trends throughout Europe pose a worrisome problem, including in Hungary. The trend has been declining into a vicious circle for decades and governments have struggled to break it. Recent demographic statistics in Hungary, however, show that with some ingenuity – like housing incentives and other breaks for families with children – a carefully selected mix of family policies can make a difference.

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Putting Families at the Core: the Family Housing Support Program (CSOK)

Feb 26, 2016

In an effort to support families with children and counter negative demographic trends, the Hungarian government announced the innovative Family Housing Allowance Program, or CSOK, which would offer up to 20 million HUF of assistance per family, specifically toward home ownership. Together with a significant reduction in the value-added tax rate on newly built homes, cutting it from 27 to 5 percent, the program offers considerable financial assistance to young couples to become homeowners.