In the second half of the year, the value of new home loan contracts rose 36% to HUF 192 billion.
Outlays were up in spite of the introduction of new caps on loan-to-value (LTV) and payment-to-income ratios.
Only 8% of new home loan contracts were for new dwellings in the last quarter of the year.
The ratio of state subsidized forint loans fell, accounting for only 14% of newly contracted housing loans at the end of the period under review.
The report said that home loan conditions were still “tight” and attributed the increase in outlays mostly to rising demand.
It noted that in 2014, one-fifth of homeowners owed money on their homes. At the end of 2015, lendersʼ stock of home loans stood at HUF 3 trillion.
At the beginning of 2014, the median home loan was HUF 3 million, but by the end of 2015 it reached HUF 4 mln. The average APR for new disbursements decreased by 0.3 of a percentage point to 5.8% in H2 of last year.
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