February 2nd, 2012

Gov’t mortgage scheme accounts for fourth of home sales in Dec-Jan

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About 27pc of resale home sales in Hungary in December and January were closed by sellers who availed of a government scheme allowing early repayment of foreign currency-denominated mortgages at discounted exchange rates, an analysis by real estate broker Otthon Centrum shows.

Home sales made because of the FX repayment scheme reached 4,000-5,000 during the two-month period, said Otthon Centrum chief analyst Attila Dery.

Hungarians had until the end of December to declare their participation in the scheme. They must make full repayment by the end of February.

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