Government subsidy amongst home renovating residents is still popular

According to GKI and Masterplast joined survey, the second quarter of the year shows no change in relation to this demand. The survey conducted in May resulted in 7,8% of households being certain, and further 12,4% are likely to take advantage of the program until the end of 2022. Most people would use the subsidy for bathroom and heating system upgrades and roof renovations, but many plan to change doors and windows and install solar panels and collectors. 

Since January 2020, GKI residential surveys aiming to reveal home renovation and improvement plans, intentions, and prospects have been sponsored by Masterplast Nyrt. In this survey, the sample of 1000 people represents characteristics like sex, age, place of residence, and qualification. 

There are several government subsidiaries available for home renovations and modernizations. However, the leading program at present is the Home Renovation Program which provides resources until 31 December 2022. For the same purpose, the villagers’ „CSOK” scheme and other programs supporting home renovations are also available. All the above attracted broad interest amongst families with children. In Q2, 7,8% of the surveyed households reported being certain, while 12,4% were likely to apply for the government subsidy for their home renovation and upgrade works before the end of 2022. The current survey results, compared to the results of the previous quarter changed within a margin of error,

This means that the interest in participating in the program is still significant. Applying for the government subsidy is the most popular among owners of detached houses – 10% are certain, and 14% are likely to do so. In terms of residents of apartment buildings, only 3% are certain, and 9% are likely to apply for the subsidy. Interest in the government subsidy is highest amongst the younger generation (under 30), where 11% are certain, and 21% are likely to apply. With aging, demand drops, and people over 60 show a result of 4% and 6%. A municipal slope can be observed, too: residents of the capital city are the least (8% and 10%), while people of municipals (10% and 14%) are the most interested in the program. 

Are you planning on applying for a subsidy for home renovations and modernization until 31 December 2022?
(distribution, percent)

 31%of those considering applying for the subsidy want to use the maximum amount receivable, whereas one in four people -meaning at least 2,31% – would apply for at least 1 million HUF. Based on this data, the average claim amount is 2.1 million HUF, which, compared to last year, increased by 10%. The planned amount receivable has been decreasing parallelly with the increase in age of the head of the households: while people under the age of 30 would apply for an average of 2,3 million HUF, the older generation above 60 are happy with 1,7 million HUF. Households with a lower income apply for a lower amount (as the costs of their projects might also be lower). 

The most popular intended use of the money are bathroom and heating system upgrades and roof renovations with a 30%-30% ratio, but a large percentage (29%) wishes to renovate internally. Every fourth participant said they were interested in external door or window replacements and solar panel and collector installations. Other areas of intended use that appear in every fifth household’s plans are airconditioning installation or upgrade, fence building or renovation, and thermal insulation.