The National Bank of Hungary (MNB) told MTI on Tuesday that, in addition to the increase, it has tightened the energy requirements for eligible homes and decided to amend the conditions of the Green Mortgage Bond Purchase Program to promote the use of higher-quality green mortgage bonds.
The energy requirements are being tightened to encourage the purchase and construction of greener homes. With category BB remaining unchanged, the upper limit for the primary energy use of a property will be reduced from the current 90 kWh/m2/year to 80 kWh/m2/year.
The MNB considers it important to promote green aspects in the housing loan market without compromising the achievement and maintenance of price stability. The central bank’s targeted programs to promote sustainability will not affect the tightening of its monetary policy.
Since the launch of the program in October 2021, more than HUF 135 billion in loan contracts have been signed.
The changes, which will take effect by July 1, 2022, will support the further adoption of best market practices and uptake of higher quality green mortgage bonds, as well as boost international investor confidence.