The government announced new details about its Wekerle housing program. The goal is to help more people, especially younger ones, find and pay for a home. The plans are part of the larger budget for 2027.
Prime Minister Péter Magyar said the program will start in 2027. It aims to build affordable rental apartments and student dormitories. He stated that a good housing policy must answer to different needs. Some people save for a new home. Others live in rented flats or want to renovate. The government needs to provide effective answers for all of them.
Finance Minister András Kármán shared specific financial tools. One is a new loan for buying a home. For a new property, the interest rate could be as low as 3 percent for people aged 18 to 41. For a used home, the rate would be 5 percent.
A major part is the renovation loan and grant. You could borrow up to 15 million forints at a 3 percent interest rate. You might also get a non repayable grant of up to 7.5 million forints for renovation work.
The program also includes a new housing savings plan. If you save money specifically for housing, the state could add an extra 10 to 20 percent to your savings. The minister emphasized that all existing supports people already use will remain valid.
The government’s stated focus is clear. It wants to make it easier for younger generations to get their own home. These new financial supports are how they plan to do it.
- Affordable rental apartments
- Student dormitories
- New home loans at 3 percent
- Used home loans at 5 percent
- Renovation loans of up to 15 million forints
- Non repayable grants of up to 7.5 million forints
| Type | Interest Rate | Maximum Amount |
|---|---|---|
| New Home Loan | 3 percent | Not specified |
| Used Home Loan | 5 percent | Not specified |
| Renovation Loan | 3 percent | 15 million forints |
| Renovation Grant | Non repayable | 7.5 million forints |
