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More Affordable Housing Planned In Budapest’s 'Rust Belt'

• 28 May 2020 9:28 AM
• Hungary Around the Clock

The government has approved a plan to build affordable housing in Budapest’s abandoned industrial sites, Prime Minister’s Office state secretary for the development of Budapest Balázs Fürjes announced yesterday.

He said the aims are to encourage the construction of available, affordable houses in rust belts, create and save jobs in the construction industry and renovate run-down areas.

The cabinet recommends that Parliament create the new definition of “brownfield action zones,” and authorise the government to designate such areas in co-operation with municipalities.

Regulations on these areas should ensure faster and simpler permit and construction processes, Fürjes said.

In addition, the government will submit a bill fixing the VAT for new houses in those areas at 5% instead of the regular 27%.

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• Budapest Rust Belt Affordable Housing

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