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Although energy efficiency restrictions that take effect next year may complicate borrowing processes a bit, realtors have found that modern condos and homes can be sold at a higher cost and in half the average time, he writes. MTI.
According to Duna House’s analysis, due to stricter energy regulations, for example, building a single-family home may cost 10 percent more starting in January, and on the demand side, customer interest in Newer, more energy-efficient housing is already growing, writes MTI.
Homes built and equipped in this way can be sold in half the time, and data for August this year clearly shows that quality has also come to the fore for second-hand apartment buyers: in the eighth month, More than 70% of those interested preferred properties in good and very good condition. Duna House said.
After January 1, only new properties with a near zero energy requirement, that is, an energy efficiency that reaches the level of profitability and that uses at least 25% of the renewable energy source on-site or nearby and, therefore, at least energy class BB, they can only receive a development permit. get. The tightening will also affect the construction loan process, as banks are already judging loans more strictly.
Based on the experience of Duna House Finances, banks are already handling tightening regulations uniformly and, for example, even if someone has their house ready this year, if they want to borrow it now, they must comply with energy regulations as of 2021. This is the only way for a financial institution to ensure that, after a possible lengthy construction, the building covered by the loan can be completed next year.
According to the realtor, construction and expansion loans account for 10 percent of the total home loan market, the proportion of which is not expected to change next year, but individual loan amounts may increase, as some homeowners only they can finance higher construction costs due to stricter regulations. . They added: As of July this year, Hungarian citizens took out 53 billion HUF for real estate construction or expansion based on market data, MTI writes.
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