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About 20% of homeowners plan renovations by 2022

By 2022 around 20% of homeowners are planning on making major renovations or upgrades in their homes, with 11% of owners planning to do it as soon as this year, according to a joint survey of economic research company GKI and Masterplast, state news wire MTI reports.

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The survey showed that renovation works could involve 750,000-800,000 homes by the end of 2022. In Central Hungary, around 15% of owners have plans for upgrades, in the western part some 20% and in the eastern part around 23%.

A little more than 14% of respondents said they would work on painting, decorating and wallpapering, around 4.6% would replace doors and windows and 4.2% would refurbish their bathrooms.

Homeowners showed the same willingness for renovation works in 2020 February than in the previous quarter but plans were somewhat more modest compared to a year ago, GKI said.

GKI asks homeowners every three months about their renovations plans, the representative survey had 1,000 participants.