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The government decree published in the Hungarian Gazette at the end of December and which entered into force on 1 January 2022 amended the application and usability of benefits for setting up families at several points.
The topic has been covered in the Portfolio before:
The rules of CSOK 2022 are included in our article below.
“Recent changes mainly clarify the existing rules, so they will not bring a radical change in the real estate market, but the changes may make it even easier for many to apply for, use and they also slightly expand the range of beneficiaries. In this way, they can give a final push to those who have hitherto hesitated to apply, be it for buying real estate, building or even renovating, ”said Dávid Valkó , Senior Analyst of OTP Real Estate
What changes and how?
Most of the amendments detailed in the government decree concern the Family Home Creation Allowance. The advance loan (support for a committed child) can still be used several times, be it for the construction or purchase of new flats or the purchase or extension of a used home, but from January 1, applicants can only sign a new support contract if the children in the previous contract were born, or if the amount of the allowance for unborn children has been reimbursed in full to the state
new support can be applied for if the family has added another child or has another child after the original application. However, the application for a new application is subject to conditions, such as the need to increase the construction budget by at least the amount of the aid and the credit institution’s approval, the second application must not be completed and the conditions for an increased number of children must be met, thus also the regulations related to the increase of the useful floor area of the property. An amendment affecting the use of the CSOK is that in the case of the construction of a new dwelling, the attic installation does not have to be accompanied by an increase in the volume of the building.
together they had to own at least 50% of the property in the renovated property, and from 1 January the proportion of children with reduced working age who have reached the age of 25 will be included in the required ownership of at least 50%.
From January 1, in addition to housing mortgage contracts, support for the reduction of housing mortgage debts for families with three or more children will also be available for housing finance leases
Important dates are approaching
First day of the year In addition to the changes that will take effect from 2007, the deadline for several home-building grants is approaching this year, which is worth keeping in mind for those who are about to buy, build or renovate / upgrade / expand real estate. If the current government decrees do not change during the year, the Village CSOK will be available until June 30, 2022. The deadline for applying for the Baby Waiting Loan and Home Renovation Support is 31 December 2022. The CSOK-related VAT refund subsidy for housing construction can also be applied for until 31 December 2022.
The discounted 5% VAT applicable to the purchase of newly built flats is then applicable. , if the building permit has been obtained by 31 December 2022 or the simple notification has been made and the sale takes place by 31 December 2026.
‘If the deadlines do not change, the start of negative market developments this year will not allow the start of negative market developments. As a result of the end-of-year deadline for the discounted housing tax, the number of new flats and projects entering the market may increase in the coming years, thus ensuring a continuous supply on the supply side, ”added Dávid Valkó.
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