41% of Hungarian Households Plan Energy-efficiency Improvements

Analysis

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Around 41% of Hungarian households plan home renovations to reduce their utility bills, state news wire MTI reports, citing a representative survey commissioned by Magyar Bankholding.

The survey shows 51% of households are affected by changes to electricity prices and 41% feel the impact of changes to gas prices. Those households are paying HUF 10,000-60,000 more a month on their utility bills.

The government rolled out new consumption restrictions for regulated household utility prices in August.

About half of households planning energy-saving renovations in the future want to replace their windows and doors, while 45% want to install insulation and 38% plan to install solar panels. Around 47% of households budget between HUF 1 million and HUF 10 mln for their renovation projects and 52% plan to spend between HUF 100,000 and HUF 1mln.

Close to one-quarter said they would weigh borrowing to pay for their projects.
 

 

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