The new use of the SZÉP card is a divisive one

By: Trademagazin Date: 2025. 05. 07. 10:35

According to a recent study by Cofidis Hitel Monitor, a significant portion of the population is planning to modernize their homes again – many would do it on their own, others with subsidized loans or by purchasing with a SZÉP card.

In the uncertain economic environment of recent years, many people postponed home renovations, but in 2025, the desire to renovate is noticeably increasing: according to data from Cofidis Hitel Monitor, almost a third of homeowners would start some kind of work this year. The majority of those surveyed would cover the costs from their own savings, but every fifth renovator is also considering using a loan from a financial institution.

Timing: now or never?

According to 60 percent of respondents, now is the time to renovate, because in their opinion, they would only be able to do the same work more expensively later. Those who would also use external sources typically plan to take out a personal loan of around 2–3 million forints. There is also a keen interest in state-supported, preferential loan structures, especially options for home renovations that attract many.

Painting, tiling, kitchen-bathroom – all at once

According to the research, barely a quarter of those planning a renovation are thinking about a single intervention – the majority envision a more complex transformation, with an average of four items on their list. The most popular work is painting and wallpapering (57%), but many are also planning to modernize the kitchen and bathroom. A quarter of renovators would replace the coverings, renovate the facade or modernize the windows and doors. Two-thirds of the planned investments concern single-family houses.

For what, how much?

Half of the renovators plan to spend less than 1 million forints, while the other half would spend much more, typically around 2.5 million forints. Although this is 700 thousand forints higher than what was intended for similar purposes in 2022, taking inflation into account, it is less in real terms.

Households would not only spend on real estate: 31 percent of those surveyed plan to buy household appliances, and 22 percent also plan to buy furniture. The average amount intended for household appliances is around 196 thousand forints, and for furniture is around 237 thousand forints.