Expert: New home construction could rise 50% this year



The number of homes built in Hungary this year could rise 3,500-4,000 over the 7,600 completed in 2015, the head of construction business association EVOSZ said on Hungarian state-owned all news channel M1 late yesterday.

Interest has grown for new homes, and people are weighing the financing options and will approach contractors after they make a decision, László Koji said, according to Hungarian news agency MTI. 

The government recently introduced a number of measures that are expected to give the home construction market a boost. Among them is a new subsidy scheme for home purchases for families with children and a reduction in the VAT for home construction.

Koji said home building companies had lost about 80% of their market because of the downturn in home construction, and many went bust. Now, companies that have built just hospitals or schools could start building homes as the market adapts to the new demand, he added.

Koji proposed reintroducing VAT refunds for home renovations. The refunds worked very well in 1998-2002, he added.


Job ads in hospitality, tourism sector grow drastically  Analysis

Job ads in hospitality, tourism sector grow drastically 

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


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.