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Industry insider augurs 17,000 home completions in 2021

Construction

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Around 17,000 homes could be completed in Hungary this year, the head of construction industry association ÉVOSZ said on Friday, based on feedback from members, according to a report by state news wire MTI.

László Koji said that the construction of a further 10,000 homes could start during the year.

Last year, just over 28,200 homes were completed in Hungary, while 10,000 were still under construction at the end of the year.

Lawmakers have reduced the VAT rate on home construction from 27% to 5% for a period of two years starting in 2021. The measure is part of the government's economic recovery plan.

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