6 °C
2024-10-31
Nagy Márton, Hungary’s Minister for National Economy, met with key figures in the real estate sector to discuss measures addressing the housing crisis. Among the proposals, measures were suggested that could mobilize over 100 billion HUF.
The meeting aimed to discuss solutions for Hungary's housing crisis, with a focus on affordable housing. As part of the new Economic Policy Action Plan, the government proposed ten key actions to address housing challenges.
A key development was the tightening of Airbnb regulations in Budapest, with efforts to extend the improvements nationwide, including rural home renovation programs and using voluntary pension savings for housing purposes.
One proposal discussed creating a state program allowing domestic real estate funds to access 20-30 billion HUF each, totaling over 100 billion HUF, to develop affordable housing, rental apartments, and dormitories. The government is exploring how state-backed funds could support such initiatives.
Additionally, it was suggested to reduce the 27% VAT on rental housing and dormitories to 5% if businesses lease to private individuals. These measures are expected to boost both the construction and real estate sectors, contributing to a projected 3% economic growth in 2025.
