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Aug 08, 2018

Hungary’s family home-creation scheme has helped 81,000 families in its first three years

Katalin Novák says the CSOK scheme helped families “create the conditions for having and raising children”

Hungary’s family home-creation scheme (CSOK) has helped 81,000 families in its first three years, it has been revealed.

According to State secretary Katalin Novák, the scheme helped families “create the conditions for having and raising children”.

Novák revealed that grants totaling 232 billion HUF (726m EUR) have been paid out to families in the scheme so far, and an even higher amount, 242 billion HUF, is being allocated for the same purpose in next year’s budget.

According to MTI, the state secretary said that the program has met its purpose of boosting construction, noting that the number of completed homes had increased by 30 percent in a single year.

Referring to the government’s plans to eliminate a preferential 5 percent VAT on homes, Novák said the government was mulling “a similar incentive for home buyers”.