The popularity of Hungary’s generous home renovation support for homeowners remains high, according to a recent survey.
In the past years, Hungary introduced several types of state subsidies for the renovation and modernization of flats and houses. These include the Home Renovation Program’s housing renovation grants and loans. Under this scheme, a non-repayable 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 Subsidy Scheme for Families specifically for small villages (Falusi CSOK) can also be used for such purposes.
A recent quarterly survey of homeowners by economic research institute GKI and building materials company Masterplast shows that 7.8% of households are certain to apply for public support for home renovation and modernization by the end of 2022, and an additional 12.4% are likely to use this type of help.
The results are practically the same compared to the previous quarter, suggesting an essentially unchanged interest despite the increasing number of people who have already taken advantage of at least one of the support options.
According to the survey, state support for home renovations is the most attractive option for family homeowners – 10% were sure and 14% were likely to apply. Among those living in condominiums, 3% are certain and 9% are likely to take advantage of the favorable conditions. The rate of interest in public subsidies is highest among young people (under 30), with 11% and 21% of those who are without a doubt or likely to take up the subsidy. Interest declines 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 was interested in replacing external 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 works are also popular and are in the plans of one in five families wishing to receive support.
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