US EditionThe Number of Properties for Sale Has Skyrocketed Due to the Home Start Program
6 Articles
6 Articles
Since the launch of the fixed 3 percent interest rate home loan in September, not only buyers but also sellers have taken action. As a result of the Home Start Program, the supply of new housing on the market has expanded by 20–30 percent nationwide, and 71 percent more apartments have been advertised in Budapest than at this time last year.
Nationally, 76 percent of advertisements meet the conditions of the Home Start Program, mainly condominium apartments are for sale, while the selection of garden houses has increased at a slower pace.
The Home Start Program's home loans represent a significant budgetary burden, while providing outstanding profitability for the banks. While borrowers pay a maximum interest rate of 3%, the banks realize a transaction interest rate of 8.11%, with the state covering the difference.
The fixed 3 percent loan has brought in buyers, is getting the real estate market and the construction industry moving. Otthon Start refutes the naysayers.
The Home Start Program dynamically stimulated demand in the previous weeks and months, and by September it had also activated sellers. According to the data, more and more sellers are deciding to ride the wave of demand, which has resulted in a significant increase in the number of newly advertised apartments and houses for sale nationwide.
The Home Start Program has not only moved buyers in recent months, but also activated sellers by September.
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