Billions in Home Renovation: SZÉP Card Transforms Retail Landscape
Boedapest, maandag, 23 juni 2025.
The Hungarian SZÉP card has provided an unprecedented boost to the DIY and home furnishing sector. Since early 2025, cardholders can spend up to 50% of their balance on home renovation, leading to a spectacular spending wave. Around 120,000 users have already spent 6.6 billion forints, with an average of 55,000 forints per person. Popular purchases include furniture, tools, paint, and flooring, primarily in construction and home stores. Retailers like OBI, Praktiker, and Jysk are seeing a significant increase in sales, giving the retail sector a promising growth impulse.
SZÉP Card Market Impulse
Since early 2025, SZÉP card holders can spend up to 50% of their balance on home renovation, causing a significant economic shift [1]. Approximately 120,000 users have already spent 6.6 billion forints, with an average of 55,000 forints per person [2].
Retail Landscape Transformation
Stores like OBI, Praktiker, and Jysk are seeing a remarkable increase in sales, with average purchases ranging between 35,000 and 40,000 forints in large stores [3]. The most popular purchases include furniture, tools, paint, and flooring [4].
Banking Perspectives
MBH Bank reports that nearly 20,000 cardholders have balances that can be used without charges until 20 September 2025 [5]. K&H Bank signals that more than 12.6 billion forints have been spent on home renovations via SZÉP cards [6].