The government will extend the discounted housing VAT for another two years, the finance minister wrote on his Facebook page on Saturday.
Mihály Varga highlighted:
this is good news for families and construction companies, it means that until December 31, 2026, newly built apartments (up to 150 square meters) and family houses (up to 300 square meters) will be subject to a VAT rate of only 5 percent.
He called it a further relief that the reduced tax rate can be applied even until the end of 2030 in the case of properties whose building permit and notification were made by the end of 2026.
The facilitation was also supported by professional organizations, the National Association of Construction Contractors (ÉVOSZ) and the Hungarian Chamber of Commerce and Industry (MKIK).
With the tax reduction, the government leaves HUF 200 billion to the people every year, while also providing significant assistance to the Hungarian construction industry.
The budget provides the resources necessary for tax reduction, the measure does not jeopardize the deficit target.
Featured image: Mihály Varga/Facebook
