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At least 14,000 new homes expected in Hungary in 2017

This year is expected to be dominated by home buildings, with a total of 14,000-16,000 homes expected to be created this year, according to an analysis sent to the Budapest Business Journal today by real estate agency Otthon Centrum.

Sentiment for building homes has been on the rise, and is expected to linger. In 2016, the number of new homes reached 10,000-12,000, and almost 25,000 building permits had been issued by the end of the year.

Otthon Centrum expect the epicenter of new home buildings this year to be in the capital and its agglomeration, while regional centers and towns with county rights might also see an uplift.

By the end of the year, Otthon Centrum expects the number of newly built homes to reach 14,000-16,000. Citing a survey it conducted, the agency says Budapest is currently seeing 338 ongoing projects, in the framework of which almost 21,000 homes have been posted online. These should all be built in the coming few years, Otthon Centrum anticipates.