Attila Juhász, the head of Évosz’s building materials section, said there are very few ongoing state or private investment projects and both consumers and businesses have been put off by high interest rates.
The government’s latest measures to ease the housing crisis – the home renovation program for rural areas, the extension of the 5% VAT rate on sales of new homes, making voluntary pension fund savings and Szép card voucher balances available for home renovation spending – are not expected to make an impact on the building materials market before the second half of next year, Évosz said.
Building materials traders trust that lending interest rates will decline and demand from both institutional investors and private individuals will start growing thanks to the government measures, mainly in the renovation segment, the association said.
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