Renovation subsidies could raise home sales to 160,000
Home purchase and renovation subsidies have supported the real estate market and could help raise the number of home sales this year to 160,000 from 135,000 in 2020, OTP Bank's real estate broker arm OTP Ingatlanpont said, according to napi.hu.
At the beginning of the year, due to the consolidation in 2020 and the coronavirus pandemic, slow growth in turnover was expected at most. However, mainly due to government subsidies, the real estate market recovered faster than expected, the broker said.
OTP Ingatlanpont chief analyst Dávid Valkó said as long as subsidies are available, the market could keep booming, but even without the support and with the end of the loan repayment moratorium, a crash looks unlikely.
Growing inflation could provide new momentum to real estate investments, he added.
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.