3 Reasons Why to Buy an Apartment Now

Home seekers have more reasons than ever to buy an apartment now, thus those who’ve been waiting for a good deal also should review the listings. Real estate market started to rise last year, and this trend kept going this year as well; thus we can state it’s not a temporary, but rather a permanent phenomenon.

1.  Increasing Prices

Beside the number of transactions property prices are also increasing, thus home seekers should make a decision now. Prices increased by 2 percent last year; this year’s increase is expected to be about 3 percent.

2.  Favorable Loan Rates

Home seekers can get favorable rates when applying for a loan. Buying an apartment for HUF 12.5 million now we only have to have a HUF 2.5 million own capital and a HUF 130-140 thousand monthly net income. Taking a HUF 10-million loan for 20 years, the monthly down payment will be around HUF 65-70 thousand.

3.  Subsidized Housing Program for Families

A new subsidy system will be started in July 2015: thanks to the Subsidized Housing Program for Families (CSOK) more families can get a government subsidy when buying an apartment than before. The subsidy also can be used when buying a used or a smaller apartment, and families with only one child can also get it. The amount of the subsidy depends on the number of children, the square meterage and the energy efficiency grade of the apartment. Families can get a HUF 50,000 subsidy at least and a HUF 3,250,000 one at most.

Source:http://www.resourceinfo.hu/hu/cikk/lakas/37384.html