Renovations planned for 450,000 homes in Hungary

Analysis

Shutterstock.com

About 450,000 homes in Hungary could undergo some degree of renovation in the coming year, state news wire MTI reports, citing a quarterly gauge of the market by economic research company GKI and building materials maker Masterplast.

Image by Shutterstock.com

In relative terms, renovation work is planned at around 14% of single-family detached homes and at almost 10% of homes in blocks of flats.

Almost three-quarters of homeowners who plan renovation work will pay for projects with savings, with one-quarter using savings from home savings banks.

One-fifth of homeowners planning renovation work will take out credit, and one in seven will get some form of state subsidy.

ADVERTISEMENT

EU-funded fact-checking website in Hungary launches Analysis

EU-funded fact-checking website in Hungary launches

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't Calls for technical screening of László Papp Arena City

Gov't Calls for technical screening of László Papp Arena

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.