Minister Gergely Gulyás called Hungary’s new Otthon Start program the most significant homeownership initiative since the regime change, highlighting its economic and social impact at Tuesday’s government press briefing. Joined by State Secretary Miklós Panyi and Spokesperson Eszter Vitályos, Gulyás said the scheme reflects a long-term commitment to supporting young people through stable housing, while responding to external economic threats with a parallel job and industry protection plan.
The program, launching 1 September, offers first-time buyers up to HUF 50 million in loans at a fixed 3 percent interest rate over 25 years, with just 10 percent self-financing required. Eligible properties must fall under a HUF 100 million cap for flats or HUF 150 million for houses, and meet a price ceiling of HUF 1.5 million per square metre.
“Even with average wages and little savings, young people can now take the first step toward owning a home,” Gulyás said. “We are not considering a rental scheme—this is about long-term stability through ownership.”
More than 100,000 properties currently meet the program’s criteria, with additional listings expected as previously withheld homes re-enter the market. Developers will be incentivized: housing projects with at least 250 units—70 percent of which comply with price limits—may qualify as strategic investments. The goal is to initiate 20,000–25,000 new housing projects that otherwise would not launch.
According to Gulyás and Panyi, the program could lead to the construction of 50,000 new apartments and thousands of family homes over five years, generating up to HUF 5,000 billion in investment and creating jobs across the construction sector. A dedicated Program Office, digital tools, and close coordination with banks will support rollout.
In parallel, Gulyás said the government is preparing a job and industry protection action plan following consultations with major companies affected by the EU-US trade deal. He criticized the agreement as harmful and unrealistic, citing concerns from Hungarian and regional stakeholders.
Turning to foreign policy, Gulyás warned of growing instability in the Balkans, calling the conviction of Bosnian Serb President Milorad Dodik a destabilizing act. “The Balkans won’t find stability through Western intervention—but through its absence,” he said.
