"Government decision: 3 percent preferential loan for the first apartment or house. For anyone. Anywhere," Viktor Orbán posted on Wednesday afternoon.

“The new support can be used by anyone who wants to buy their first apartment or house. The property can be anywhere, from the smallest village to Budapest, and there is no age limit, although according to the order of life, it is more favorable for young people”

- the Prime Minister explained the details.

He added:

“You can borrow a maximum of 50 million forints, at an interest rate of 3%, for the entire term, which can be a maximum of 25 years. The deductible is 10%. This represents serious support, because today there are high interest rates of 6.5-8% on the market, and this is less than half of that.”

Orbán promised a new program starting in September,"which will provide opportunities for home renovators."