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Building Materials Market Set to Remain Tight in Hungary

• 20 Dec 2024 8:39 AM

Attila Juhasz, the head of EVOSZ's building materials section, said there are very few ongoing state or private investment projects and both consumers and businesses have been put off by high interest rates.

The government's latest measures to ease the housing crisis - the home renovation programme for rural areas, the extension of the 5pc VAT rate on sales of new homes, making voluntary pension fund savings and SZEP card voucher balances available for home renovation spending - are not expected to make an impact on the building materials market before the second half of next year, EVOSZ said.

Building materials traders trust that lending interest rates will decline and demand from both institutional investors and private individuals will start growing thanks to the government measures, mainly in the renovation segment, EVOSZ said.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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