Budapest would need 120,000 new homes by 2030
According to a study commissioned by a Viennese real estate development company, Wiener Komfortwohnungen, there will be a demand for around 1.2 million new homes in nine major European cities by 2030, writes G7.hu.
This includes Budapest, in which, according to the study, almost 120,000 homes would be needed by 2030 to accommodate the growing population.
According to the data, the number of dwellings in Budapest should be increased by at least a seventh in 10 years. Konstantin Kholodilin, author of the study, says in the past politicians and urban planners have often underestimated development needs.
Foresight is important because housing supply in large cities often adjusts to demand rather late, due to shrinking downtown construction opportunities, protracted permitting procedures and a lack of construction labor, G7.hu notes.
Lenders' Home Loan Outlays at HUF 344 bln in H2 2023
EC Calls on Hungary to Comply With CJEU Ruling on Asylum See...
Hungary's Largest ESG Consultancy Formed by Merger of EY, De...
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
