Cordia plans to complete 1,800 apartments in 2021

Residential

Hungarian property developer Cordia plans to complete around 1,800 apartments in 2021, mostly in the 8th 9th, and 13th districts of Budapest, the company said on Wednesday, state news wire MTI reports.

Cordia CEO Tibor Földi said temporarily reducing the VAT rate on home construction to 5%, extended governmental support for home purchases, including the Home Purchase Subsidy Scheme for Families, known by its Hungarian acronym "CSOK" and long-term fix-rate home loans are all supporting demand on the housing market.

Cordia will start offering for sale 820 homes this year as part of seven development projects in Budapest. Half of these homes will be in green areas as a response to increased interest because of coronavirus pandemic lockdowns.

The company completed work on 1,100 apartments in 2020 in Budapest.

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