MÉASZ expects building material boom in 2021

Analysis

Photo by urfin / Shutterstock.com

The home creation and renovation programs starting next year are expected to provide a lasting set of orders for both Hungarian building material manufacturers and construction companies, the Hungarian Building Materials and Construction Products Association (MÉASZ) said, according to origo.hu.

Photo by urfin / Shutterstock.com

In the case of renovations, the billing obligation for building materials and labor will clean up the market, and thus the quality of the contractors may also improve.

The members of the association are confident that with the launch of the 5% VAT rate for new homes, attic installation under the family home discount, and the family home renovation support program, the market can gradually return to 2019 levels in the second half of 2021.

MÉASZ added that market participants are already preparing for the support period starting in 2021, and have already received requests for quotations from next year.

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