Latest news in Hungary - 4 Jul 2025

New 3 Percent Loan for First-Time Homebuyers: Prime Minister Viktor Orbán has announced a new "home creation loan program" offering first-time buyers a maximum of 50 million forints with a 25-year repayment period and a fixed interest rate of 3 percent. A 10 percent down payment is required, and the loan is available for properties nationwide, primarily aimed at younger individuals. An additional program for home renovators is set to launch soon. Read more here

Investigation Launched into Budapest Pride Event: The National Investigation Bureau has started an investigation into the recent Budapest Pride event, referred to as a "prohibited gathering" by police, amid ongoing tensions surrounding LGBTQ+ rights in Hungary. This follows Prime Minister Viktor Orbán's earlier remarks suggesting a ban on the event, while a record number of participants celebrated Pride despite governmental opposition. Read more here

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Government and Banks Clash Over Revolut: A new transaction tax law in Hungary is causing a rift between the government, banks, and fintech companies like Revolut, as domestic banks argue for equal competitive conditions while fintechs warn that the changes could stifle innovation and drive them out of the market. With Revolut boasting over 2 million Hungarian customers, the implications on local fintech growth and competition are significant. Read more here

Hungarians Join American Film Academy: Three Hungarian filmmakers, Györgyi Szakács, David Jancsó, and Balázs Varga, have been invited to join the prestigious American Film Academy, which decides the Oscars. Over 500 new members include notable talent like Gillian Anderson and Jason Momoa, highlighting the Academy’s continued expansion and diversity. Read more here

Erratic Motorcyclist Chase in Budapest: A motorcyclist, previously banned from driving and unfit to operate a vehicle, led police on a chaotic chase through Pest, endangering pedestrians before crashing and being arrested. The incident was captured on video and highlights the dangers of reckless driving. Read more here

French Air Traffic Controllers Strike Disrupts Flights: A two-day strike by French air traffic controllers has led to significant travel disruptions, with 25% of departing flights from Paris airports canceled and up to 30% in southern France. Wizz Air and Air France have also canceled flights to Budapest, affecting thousands of travelers. Read more here

Severe Drought Affects 90% of Hungary: A significant drought is impacting over 90% of Hungary, with soil moisture levels critically low—only 15-30% of what's necessary for plants. Recent satellite images show stark color changes due to vegetation stress, particularly in lowland areas. Water levels in rivers are alarmingly low, with the Danube in Budapest at just 89 cm, and historical lows in Szolnok. Read more here

New Law Allows Preemptive Separation of Newborns: A recent amendment to Hungary's child protection laws permits guardianship authorities to decide during a mother's pregnancy if a newborn should not be sent home from the hospital due to identified risks. This change aims to address situations where families may be deemed unfit for child-rearing, though concerns have been raised about its potential misuse and the lack of practical support for parents. Read more here

Hungary's Loan Market Booms: In May 2025, Hungary's loan market saw significant growth, with new housing loan contracts reaching 148.56 billion forints—an 11% rise from April and 14.7% year-on-year. The surge in contracts follows expectations of a new 3% loan program for first-time homebuyers, set to potentially broaden access to housing loans. Read more here

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