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.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
