In a post on Facebook, state secretary Miklos Panyi said the projects include 3,400 homes eligible for the credit: 3,000 in the capital and 400 in Debrecen, Hungary's second-biggest city.

Twenty-three developments now have the "priority" designation, he added.

Developers planning projects with units eligible for the Home Start credit may apply for the priority designation, speeding up administrative procedures.

The government expects the Home Start scheme to support the construction of over 50,000 homes within five years, Panyi said. Those projects will be worth around HUF 4,500bn and create several thousand jobs, he added.

Meanwhile, construction sector output falls 11.4pc in January

Output of Hungary's construction sector dropped 11.4pc year-on-year in January, data released by the Central Statistics Office (KSH) on Friday show.

Construction sector output slipped 9.6pc when adjusted for the number of workdays.

Output of the buildings segment dropped 9.6pc, while civil engineering output fell 14.5pc.

In absolute terms, construction sector output reached HUF 396bn in January. The buildings segment accounted for 65pc of the total.

In a month-on-month comparison, construction sector output declined 8.8pc, adjusted for seasonal and workday effects.

Order stock was up 18.8pc at the end of January compared to twelve months earlier. Buildings segment orders fell 3.6pc but civil engineering orders surged 30.5pc.

New order volume fell 6.0pc during the period. New orders in the buildings segment dipped 14.5pc and new civil engineering orders climbed 29.3pc.
 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com
 

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