Dávid Vitézy announces new housing program and investment review

Minister of Transport and Investment Dávid Vitézy has announced the Wekerle Sándor Housing Program, a government initiative aimed at stimulating rental housing construction. Vitézy noted that current housing delivery rates in Hungary are significantly lower than in neighboring countries like Austria, Poland, Czechia, and Romania. He highlighted that while it previously took an average of 5.9 years of work to afford a new home, that figure has risen to 7 years due to market inflation outstripping real wage growth.

The program intends to use European Union recovery funds to build affordable rental housing and dormitories, targeting young professionals and families. Comprehensive plans are expected to be finalized by the end of the year through consultations with municipalities and industry stakeholders.

In a related move, the government is reviewing special investment decrees. Vitézy announced that the 'accelerated procedure' status will be revoked for several major projects that have faced local opposition. Affected developments include the Láng Machine Factory in the 13th district, the Club Aliga development at Lake Balaton, and the Pázmány Campus in Józsefváros. While existing building permits remain valid to avoid public fund liability for damages, the special regulations that allowed these projects to bypass local zoning and height restrictions will cease immediately.