Renovation subsidies could boost home sales to 160,000
Saturday October 2, 2021, 12:00
Home buying and renovation subsidies have supported the real estate market and could help increase the number of home sales this year to 160,000 from 135,000 in 2020, said OTP Ingatlanpont, the real estate brokerage arm. from OTP Bank, according to napi.hu.
At the start of the year, due to consolidation in 2020 and the coronavirus pandemic, slow revenue growth was expected at best. However, mainly due to government subsidies, the real estate market recovered faster than expected, the broker said.
OTP Ingatlanpont chief analyst Dávid Valkó said that as long as grants are available, the market could continue to thrive, but even without the support and with the end of the moratorium on loan repayments, a crash seems unlikely.
Rising inflation could give real estate investment a new boost, he added.
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