- 17 May 2016 9:00 AM
In spite of a substantial increase, the number of building permits remains low in Hungary compared to pre-crisis levels.
In order to boost home construction, the government has recently cut the VAT rate on construction to 5 percent from 27 percent and expanded home purchase subsidies.
This could have an impact on the number of building permits already this year, the bank group’s analysis said.
Republished with permission of Hungary Matters, MTI’s daily newsletter.