Close to 1/3 of home construction, renovation projects overbudget

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Around 32% of Hungarians building or renovating homes have had to pay more than planned because of the shortage of materials and labor, as well as rising prices, state news wire MTI reports, citing a survey by building materials seller Újház Centrum shows.

The representative survey conducted early in May shows 28% of Hungarians undertaking building and renovation projects had to postpone work, while 27% said their projects were on schedule.

Around 17% of respondents said they were availing of state subsidies for home renovation, while 11% were using grants available in the Home Purchase Subsidy Scheme for Families (CSOK) and 9% were taking out subsidized prenatal baby support loans.

With 80 locations around the country, Újház Centrum has around a 12% market share of Hungary's building materials trade.

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