Upcoming Changes to CSOK Plusz in Budapest: What You Need to Know

Published: December 10 2023

Upcoming changes to CSOK Plusz in Budapest are set to have a significant impact on those looking to take advantage of the new subsidies. In this article, we will outline the key information you need to know about these changes and how they will affect the eligibility criteria and opportunities for property purchases.

With the introduction of CSOK Plusz in 2024, it is crucial to ensure that the property meets the legal requirements in order to qualify for the subsidy. Our experts at Bankmonitor have gathered and categorized the important information regarding the eligibility criteria for CSOK Plusz applicants.

Due to the government administrative break at the end of the year, individuals who wish to apply for CSOK or Babaváró loans must expedite their applications. The administrative break, which affects the activities of government administrative organizations, including those handling real estate matters, makes it necessary to submit applications before the year-end deadline.

The anticipated launch of CSOK Plusz in 2024 is expected to draw a significant number of applicants. The low-interest rate and the possibility of obtaining up to 50 million Ft for families with three children make CSOK Plusz an attractive option. Additionally, the subsidy can be combined with the existing rural CSOK program and Babaváró loans. To take advantage of this opportunity, it is advisable to start preparing early as the future of your family may depend on making the right decisions.

Bankmonitor experts recently held a webinar titled "How to be a winner in the world of savings in 2024?" In this informative session, they provided insights on which savings options align with different life situations to help you make the most of your savings in the coming year. We will be sharing the recording of this webinar in three parts, and this article focuses on the discussion of savings options and strategies.

What is CSOK Plusz? CSOK Plusz is a housing support program in Hungary that can be applied for in case of having children.

What are the requirements for an eligible property for CSOK Plusz? The property must meet certain legal requirements in order to be eligible for CSOK Plusz. The specific details can be found in the information gathered by the experts at Bankmonitor.

What is the timeframe for the government administrative break in Hungary? According to the 407/2023. (VIII.30.) Government decree, the government has ordered an administrative break from December 27, 2023, to January 1, 2024. During this period, government administrative tasks and customer service will be suspended, affecting those who wish to apply for housing loans, such as CSOK or Babaváró, this year.

What is the expected number of applicants for CSOK Plusz in 2024? The CSOK Plusz program, which will be available in 2024, is expected to have a significant number of applicants, possibly ranging from 12,000 to 15,000 in the first year. This is due to the low interest rate (maximum 3%) and the possibility of obtaining up to 50 million Ft in supported housing loans for families with three children. Additionally, CSOK Plusz can be combined with the rural CSOK and the Babaváró loan, providing even more assistance.

How can I prepare for the arrival of CSOK Plusz in 2024? If you are interested in taking advantage of the CSOK Plusz program in 2024, it is advisable to start preparing as early as possible. Making the right decision can have a significant impact on the future of your family, so it is important to be proactive.

What topics are covered in the webinars held by Bankmonitor? Bankmonitor holds webinars on various investment topics. In one webinar titled "How to be the winner of the savings world in 2024," the experts discuss different investment options that match specific life situations.

Is there a calculator available for Babaváró loan? Yes, Bankmonitor offers a Babaváró loan calculator that can help you determine the amount you can borrow and the repayment terms.