Home Building Permit Issues Jump 88.7% In Q1
- 5 May 2017 7:10 AM
The number of home building permits issued in Hungary rose by an annual 88.7% to 9,525 in the first quarter, the Central Statistical Office (KSH) said. The number of permits issued for homes in the capital was up 220% at 4,395. The number of completed homes climbed 46.7% to 2,061 during the period.
A little more than 200 of those homes were in Budapest, while about 700 were in other big cities. The average size of the completed homes was 105sqm.
Private individuals built 58% of the homes. In a statement reacting to the KSH report, the economy ministry attributed the rise to government housing programmes, the home purchase subsidy system (CSOK) and a low VAT for house and apartment sales, which the ministry said have spurred the sector on from 2016.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
LATEST NEWS IN property