Hungarian demand for houses grows after announcement that VAT can be reclaimed

Since the announcement past weekend by Katalin Novak, that as of January those using a family home discount can claim back VAT on the purchase of a house the demnd has risen. There have also been certain changes introduced to the family home discount rule that make more families eligible for these preferential rates. This means not only those with 3 children, but also single-child families. The boom in demand is also connected to an earlier announcement last week by Viktor Orban, who extended the lower VAT rates for construction of new apartments to 5% until December 31 2022.