Home purchase support could boost sales by 10,000

Residential

Image by Pixabay

Governmental support for home purchasing and home renovations could push the number of home sales to 140,000 in 2021 from around 130,000 in 2020, OTP Ingatlanpont lead analyst Dávid Valkó said at an online press briefing this week, according to profitline.hu.

Valkó said measures like the temporary reduction in the home construction VAT rate to 5% could give a boost to the new home market, as several developers had already announced new housing projects at the end of last year.

New home prices could fall slightly as a result, but as demand increases prices could rise back by the end of 2021 to where they were at the start of 2020, he added. The analysts said home renovation subsidies could prove to be the most impactful as, from the up to HUF 3 million on offer, a roof or a heating system could be completely replaced at a residential property, making resale homes more popular.

ADVERTISEMENT

Consumer price levels below EU avg in 2020 Analysis

Consumer price levels below EU avg in 2020

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Breast cancer screening at Dr. Rose Private Hospital Interview

Breast cancer screening at Dr. Rose Private Hospital

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.