Nearly a third of home construction, renovation projects over budget

Residential

About 32% of Hungarians building or renovating homes have had to pay more than expected due to shortages of materials and labor, as well as rising prices, state newswire MTI reports. , citing an investigation by building materials seller Újház Centrum.

The representative survey conducted in early May shows that 28% of Hungarians undertaking construction and renovation projects had to postpone work, while 27% said their projects were on schedule.

Around 17% of respondents said they received state subsidies for home renovations, while 11% used subsidies available under the Home Purchase Grants for Families (CSOK) scheme. ) and 9% took subsidized loans for prenatal help for babies.

With 80 locations nationwide, Újház Centrum holds around 12% of the Hungarian construction materials trade market.

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