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Briefing notes

Millions of VAT refunds to be available in villages for CSOK

Small towns to benefit from Hungary’s home construction program

From January 1, 2020, VAT refunds of up to HUF 5 million will be available for small-town builders to cover the cost of construction or purchase of land. This new point in Hungary’s Economic Action Plan will help some two and a half million Hungarians to obtain a home. The support will be available in nearly 2,500 localities. In detail, a family of three will have access to more than HUF 10 million in support to expand or upgrade their properties: In addition to the HUF 5 million village CSOK home subsidy, they can also benefit from a HUF 7.5 million discount loan and tax refund support.

Grants may be used to pay for the cost of construction or the purchase price of the building site, equal to the amount of VAT invoiced and paid, up to a maximum of HUF 5 million.

Finance Minister Mihály Varga reiterated that the government is taking measures to help families own a home and has made it a priority to enable as many families as possible to do so.

Applications may be submitted until June 30, 2022.

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