These items may require another contractor, an application to the relevant network operator, condominium approval or coordination, and a separate programme. They should be identified explicitly in the budget.
Direct answer
How much should you allow?
For 70 m², this benchmark corresponds to €98,000 excluding VAT, €124,460 including VAT, and approximately €143,000 with a 15% contingency.
This is no substitute for a technical inspection and comparable contractor quotations.
Calculation basis€1,400 / m² excl. VAT
- Works excluding VAT
- 98 000 €
- VAT at 27%
- 26 460 €
- Contingency
- 18 669 €
- Planning budget
- 143 129 €
Assumption: a full mid-range renovation with no major structural alterations or exceptional heritage constraints. The benchmark covers an IKEA-equivalent fitted kitchen, bathrooms, standard replacement of internal electrical and plumbing services, and air conditioning. It does not automatically include meter replacement or relocation, removal of the gas supply and pipework, an electrical capacity upgrade, utility charges, building-wide shutdowns, common areas, loose furniture, architect’s fees or structural work.
A planning benchmark, not a quotation. The property, scope, market and contractors consulted can produce a materially different result.
What the benchmark covers
A cost per square metre is meaningful only when the scope is clearly defined.
01
Strip-out and preparation
Standard removal, disposal and substrate preparation in an accessible apartment.
02
Internal services and wet areas
Standard replacement of private electrical and plumbing services, bathrooms and air conditioning.
03
Finishes and fitted kitchen
Floors, walls, painting, standard internal joinery and an IKEA-equivalent fitted kitchen.
04
Assess separately
Structural work, architect’s fees, loose furniture, façade, common areas, heritage constraints and exceptional conditions.
A renovation quotation does not automatically cover every interface with the building utilities.
01
Meters and connections
Water-meter replacement or relocation, changes to the connection point and work on a shared riser.
02
Gas removal
Contract termination, meter removal, official disconnection and any removal of pipework are separate operations.
03
Electrical capacity
Capacity upgrades, additional phases, meter-position compliance and distribution-network charges.
04
Building and utility interfaces
Building-wide shutdowns, common-area access, studies, approvals, testing and recommissioning.
Method: Renovation Budapest field experience, aligned with the planning benchmark used by Investissement Budapest. Figures must be revalidated against the actual property and comparable contractor quotations before any decision.