Lenders disburse HUF 77 billion under Green Home scheme

Image from Shutterstock.com

Lenders have disbursed around HUF 77 billion of credit under the Green Home program of the National Bank of Hungary (MNB) since the program was launched on October 4, 2021, the central bank said on its website.

Banks had signed 2,519 credit agreements as of February 25, 2022, the MNB said.

About HUF 41 billion of the credit was disbursed for detached houses and land, while HUF 26 billion was for houses in multi-unit buildings and HUF 10 billion was for the purchase of duplexes.

About 59% of the credit was for homes that owners build themselves. The average loan size was HUF 30.6 million and the average term was 20.8 years.

Under this program, the MNB offers 0% refinancing to lenders for retail loans for new homes with a primary energy consumption threshold of 90 kWh/m² per year. Interest rates on loans are capped at 2.5%. The average interest rate on a home loan stood at 4.32% in December, according to the latest data from the MNB.

Credit is limited to borrowers who plan to reside in the homes they purchase, thus excluding property investors.

The initial allocation for the program was set at HUF 200 billion, but MNB Deputy Governor Mihály Patai said earlier that there was a “very good chance” that central bank policymakers continue the program once this amount has been disbursed.


Producing decent journalism is an expensive business. For 27 years, the editors, editors and reporters of Budapest Business Journal have strived to bring you business news that works, information you can trust, that is factual, accurate and presented without fear or favour.

News organizations around the world are struggling to find a business model that allows them to continue to excel, without compromising their ability to perform. More recently, some have experimented with the idea of ​​involving their most important stakeholders, their readers.

We would like to offer this same opportunity to our readers. We would like to invite you to help us provide the quality business journalism you need. Hit our Support the BBJ button and you’ll be able to choose how much and how often you send us your contributions.

Comments are closed.