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.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.