We expect a lot of interest in the village
Experts from the Good Finance Group predict that at least 30,000 families will benefit from the $ 150 billion in rural GFIC (home improvement subsidy) over the next three years.
According to the experts, there is considerable interest in the village GFIC, which requires a non-refundable subsidy for families living in small settlements with a maximum population of 5,000, with a decreasing population.
Payments are expected to amount
Starting from July 1st, the program will be especially suitable for families whose countryside is planning to start a family and have children in cities and in declining villages.
Payments are expected to amount to up to $ 50 billion nationwide, and may exceed 10,000 per year.
Allows the recipient to take on a subsidized state subsidized loan
According to the experts of the Good Finance Group, rural GFIC can affect up to 19% of Hungarian real estate market transactions. Like the previous GFIC, this new program allows the recipient to take on a subsidized state subsidized loan. The amount of concessional home loans can reach HUF 20 billion annually.
According to Sean Cole, Vice President of the Good Finance Bank, Savings will play an important role both in the distribution of subsidies and in the disbursement of preferential loans. It is expected that up to 40% of grants will be channeled through savings.
Grants have gained considerable experience with savings
Traditional GFIC grants have gained considerable experience with savings. In the last couple of years, every fifth GFIC has been channeled, with a figure of nearly sixty billion forints, and 93% of the requests they have received have been favorable, and 86% have been paid out. In addition to GFIC support, the Good Finance Group also placed a state subsidized housing loan worth about HUF 27 billion.
The government, with the support of the village GFIC, can give new impetus to some 2,900 small settlements participating in the program to keep local families or young married couples in the local communities. As a result, demand in the villages concerned will increase demand for the approximately 250,000 vacant village residences that are still vacant and may also provide growth potential for the development of local construction companies.
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