Hungary’s generous state support for home improvement remains popular

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According to a recent survey.

In recent years, Hungary has introduced several types of public subsidies for the renovation and modernization of apartments and houses. These include Home Renovation Program grants and loans for home renovation. Under this scheme, a non-refundable grant of up to HUF 3 million (EUR 7,575) and a soft loan of up to HUF 6 million (EUR 15,150) can be applied by families raising at least one child. The housing assistance scheme for families specifically for small villages (Falusi CSOK) can also be used for these purposes.

A recent quarterly survey of owners by the institute of economic studies GKI and the building materials company Masterplast shows that 7.8% of households are certain to apply for public assistance for the renovation and modernization of their home by the end of 2022 , and that an additional 12.4% are likely to use this type of aid.

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The government is launching a subsidy program for home renovations carried out by households with at least one child, Katalin Novák, Minister of Family Affairs, said at a press conference on Wednesday. Under the program launched on 1 January, half of the renovation costs up to a maximum of 3 million forints (8,400 EUR) per […]continue reading

The results are virtually unchanged from the previous quarter, suggesting essentially unchanged interest despite the growing number of people who have already taken advantage of at least one of the accompanying options.

According to the survey, state support for home renovations is the most attractive option for homeowners – 10% were sure and 14% were likely to apply. Among those who live in condominiums, 3% are certain and 9% are likely to take advantage of the favorable conditions. The interest rate for public aid is highest among young people (under 30), with 11% and 21% of those likely or likely to benefit. Interest decreases with age, with the same rates for those aged 60 and over being only 4% and 6% respectively.

Interest in the program is lowest in the capital (8 and 10%) and highest in the villages (10 and 14%).

The most popular renovation projects are bathrooms, heating system upgrades and roof renovations, but many people also want to renovate their interiors. One in four respondents were interested in replacing exterior windows and installing a solar panel or solar heating system. The installation or replacement of air conditioning systems, the construction or renovation of a fence or insulation work are also popular and are in the projects of one in five families wishing to benefit from support.

Featured photo illustration via Pixabay

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