Notary fees for real estate purchases to be capped

The government will cap notary fees for real estate purchases, Minister for Families Katalin Novak said on public radio.

Novak told Kossuth Radio the measure could save families “tens of thousands of forints”.

She noted that the VAT rate for home construction would be reduced to 5 percent from January, and that 5 percent could be refunded for transactions made in the framework of the Home Purchase Subsidy Scheme for Families (CSOK). These measures and an exemption of CSOK home purchases from the duty on residential property could save homebuyers 15.5 million forints (EUR 42,000) on a 50 million forint home, she added.

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