Budapest Property News

About 20% of homeowners plan renovations by 2022


By 2022 around 20% of homeowners are planning on making major renovations or upgrades in their homes, with 11% of owners planning to do it as soon as this year, according to a joint survey of economic research company GKI and Masterplast, state news wire MTI reports.

The survey showed that renovation works could involve 750,000-800,000 homes by the end of 2022. In Central Hungary, around 15% of owners have plans for upgrades, in the western part some 20% and in the eastern part around 23%.

A little more than 14% of respondents said they would work on the painting, decorating and wallpapering, around 4.6% would replace doors and windows and 4.2% would refurbish their bathrooms.

Homeowners showed the same willingness for renovation works in 2020 February than in the previous quarter but plans were somewhat more modest compared to a year ago, GKI said.

GKI asks homeowners every three months about their renovations plans, the representative survey had 1,000 participants.


Questions? Let's Chat
Need Help? Chat with us
Click one of our representatives below
Pedram Zarei
Pedram Zarei
Real Estate Professional
I am available