Money Buzz! Europa

Tag: house renovation

  • The European Union wants to renovate 35 million buildings by 2030

    The European Union wants to renovate 35 million buildings by 2030

    The European Commission announced on Wednesday its intention to double the rate of buildings renovation in the next ten years, in order to increase their energy efficiency and accelerate the transition to climate neutrality, DPA reports.

    This would mean that by 2030 35 million buildings could be renovated and up to 160.000 additional ”green” jobs could be created in the construction sector.

    Buildings are currently responsible for around 40% of EU energy consumption and 36% of greenhouse gas emissions. However, only 1% of buildings are subject to energy-efficient renovations each year.

    In order to meet the Commission’s September 2020 target of reducing emissions by at least 55% by 2030, the EU must reduce its greenhouse gas emissions by 60%, energy consumption by 14% and energy consumption by heating and cooling by 18%.

  • Families in Hungary will receive up to 10.000 USD to renovate their home

    Families in Hungary will receive up to 10.000 USD to renovate their home

    The Hungarian government will give up to three million forints ($ 9.693) to each family as help to renovate the house, in order to stimulate the recovery of the economy after the coronavirus pandemic, Reuters reports.

    ”Families with at least one child will be able to recover half the cost of renovations, up to three million forints,” said Family Minister Katalin Novak.

    The aid provided by the state will cover the cost of works to improve the house energy efficiency, to renovate the bathroom or kitchen, and expand the home.

    The announcement comes a week after Prime Minister Viktor Orban announced that Hungary would apply a reduced VAT rate of 5% to housing construction projects by the end of 2022.