Home Completions in Hungary Around 15,000 This Year

  • 6 Mar 2024 6:01 AM
  • Hungary Matters
Home Completions in Hungary Around 15,000 This Year
The number of homes completed in 2024 could approach 15,000, construction industry association ÉVOSZ said.

ÉVOSZ noted that around 20,000 homes were under construction at present. The association projected that some 180,000 homes could be renovated during the year.

ÉVOSZ chairman László Koji said both segments were underperforming, adding that 35,000 home completions a year would be “optimal”, while the sector had capacity to renovate 200,000 homes annually.

The association noted that construction sector order stock was down 23.5%, and that some of those orders were for projects after 2024. It added that high lending rates, a shortage of skilled labour and higher building material prices were also holding back the sector’s performance.

ÉVOSZ acknowledged a drop in state and local council orders, but said that would free up capacity for private sector work.

ÉVOSZ is pressing for the relaunch of the National Bank of Hungary’s Green Home Programme and urges a home renovation programme that would contain a subsidised credit element.

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