Saving for your first home can feel like chasing a moving target.
You put money aside every month, only to discover that the apartment you've been watching has become more expensive. And when Budapest property prices are high, even finding enough for the deposit can take years.
The government now plans to bring back state-supported housing savings accounts from January 2027. It's a familiar idea, but the proposed version allows people to save considerably more than the old scheme.
So how much could you actually put away?
How Will the New Scheme Work?
The idea is straightforward.
You pay money into a dedicated housing savings account, and the government adds a contribution.
Under the announced rules, savers could contribute up to HUF 100,000 per month to receive the maximum state support.
For the first five years, the government would add 10% of eligible contributions, up to HUF 120,000 annually.
From the sixth year onwards, the contribution would rise to 20%, with a maximum of HUF 240,000 per year.
There would also be interest paid by the bank, with a proposed minimum annual rate of 3%.
Unlike an ordinary savings account, however, the money is intended for housing purposes and comes with conditions.
What Could HUF 100,000 a Month Become?
Let's say you save HUF 100,000 every month for ten years.
Your own contributions would total HUF 12 million.
The government's announced contributions would add another HUF 1.8 million.
And according to the government's illustration, bank interest could bring the total to approximately HUF 16 million over the decade.
That's a meaningful sum towards an apartment deposit.
Of course, there's an important distinction between having HUF 16 million in ten years and having enough to buy the home you want.
Property prices may rise during that period, and a larger deposit doesn't remove the need to qualify for a mortgage.
Still, regular saving has another advantage: it encourages buyers to build up their own funds before taking on a substantial loan.
Why Is the Government Bringing It Back?
Hungary previously had a popular state-supported housing savings system, but the government contribution was abolished in 2018.
One weakness of the older arrangement was the relatively low monthly saving amount needed to maximise the subsidy.
That became less useful as property prices increased.
The proposed new system recognises that saving HUF 20,000 a month and saving HUF 100,000 a month produce very different results when you're trying to buy a home.
It also addresses a problem that cheaper mortgages alone can't solve.
A buyer might earn enough to afford monthly repayments but still struggle to accumulate the deposit.
For someone without an existing property to sell or family assistance, that's often the biggest hurdle.
Do You Have to Save for Ten Years?
Not necessarily.
The government has announced a minimum saving period of five years before the initial state contribution can be accessed.
But the higher support rate from year six is designed to reward people who continue saving.
That makes the programme more suitable for someone planning a purchase several years ahead than for a buyer hoping to move next spring.
The final rules will need to clarify the permitted uses of the savings, withdrawal conditions and participating banks' account terms.
Is It Worth Opening an Account?
For someone saving towards a future home, the combination of personal contributions, government support and bank interest could be attractive.
But the account shouldn't be considered in isolation.
You'll still need to think about inflation, property-price changes and how much money you can comfortably set aside each month.
Saving HUF 100,000 is worthwhile only if it doesn't leave you struggling to meet everyday expenses.
The new scheme won't make buying a home effortless.
But for people who need time to build a deposit, it could make those years of saving more rewarding.