ÉVOSZ also urged the government to make the temporary 5% VAT rate on home construction permanent. The measures would create a level playing field for home construction and home renovation, as well as support, continued momentum in the sector in 2022-2025, in spite of the unexpected increase in building materials prices and overall inflation, the association said.
The association pushed for a decision on the matter as soon as possible, "in the interest of predictability".
ÉVOSZ noted that one in four new homes are now built with some form of state support, while one in five home renovations are paid for with the help of government subsidies.
The association also recommended freezing home loan rates at 5%, adding that demand dries up if credit is dearer.
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.
