Fundamenta-Lakáskassza Zrt. and NRC market research company conducted a wide-ranging, representative survey in the end of last year about the condition of the Hungarian real estates and the renovation plans of their owners.
According to the data,
30% of the properties have been renovated a long time ago or never have been renovated at all
– and there is another 30% share of the flats and houses, that have undergone a minor or major renovation in the last 4-10 years.
In 73 percent of all renovations, the people spent their money for painting and replacing of the coverings, while 23% of the property owners were able to replace water, gas and electricity networks and 21% modernized the heating system.
As the government’s home renovation support program is available from the beginning of this year, it will likely to boost the sector in the upcoming period.
2021 could be the year of renovations.
In addition to state aid to support renovations, many are expected to use their home savings contract to generate the required self-sufficiency.
– said Bernadett Tátrai, CEO-Chairman of the Board at Fundamenta and SEED Faculty member.
As the research shows, those who have a home savings account are more likely to be able to renovate their home and thereby increase its value.
Another interesting finding is, that 84% of the property owners believe their homes also need renovation in terms of energy efficiency – which means a further boost in the installation of solar panels, solar collectors and in other energy efficiency related investments in the near future.
Click here to read the related article (in Hungarian) by Biztosító Magazin online.
Check out the insights in terms of energy efficiency and the condition of the real estates (in Hungarian) at Fundamenta’s company portal.