New Home Building Permits Up In Hungary, Home Prices Expected To Rise

  • 1 Aug 2019 7:27 AM
  • Hungary Matters
New Home Building Permits Up In Hungary, Home Prices Expected To Rise
The number of home building permits issued in Hungary rose by 0.9% to 18,227 in the first half of 2019, data released by the Central Statistical Office (KSH) show.

The number of home building permits issued in Budapest edged up by 0.6% to 6,153. The number issued in county seats and cities with over 50,000 residents fell by 3.2% to 3,978.

The number in other cities was down 5.7% at 4,838, and the number in smaller communities jumped by 20.4% to 3,258.

Meanwhile, a survey by economic research institute GKI forecast a 4 to 5% rise in home prices for the coming twelve months.

New home prices are expected to climb 4 to 7 percent, the quarterly survey shows. The prices of centrally located homes in the capital could rise by 10%.

GKI drew on responses from more than 1,200 companies and a representative sample of 1,000 people for the survey.

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