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KSH: Construction up in Budapest, down in Hungary

Tourism

The Central Statistics Office (KSH) released its report on construction for the first half of 2013, with the numbers showing a distinct gap in home development between Budapest and the rest of Hungary.

In the first six months of the year, some 2,680 new houses were built, with a lion’s share of 882 (or 32.9%) of the new dwellings located in the capital. The 2,680 mark represents a 40% plummet year-on-year, while Budapest saw 13% more homes go up. Concomitantly, the number of construction permits for homes fell 30% y.o.y. to 3,401 in total.

KSH also noted that the number of new construction permits issued in the first half of 2013 fell by 43% to just 567, but that over 100 new permits each were issued in Debrecen, Pécs, Sopron, Szombathely and Vác.

Private individuals still accounted for a majority of building contracts at 56% of the completed homes in Hungary for the half-year, down from 65% a year ago, while businesses picked up the slack in going from a 32% to a 39% share. In Budapest, business interests accounted for a big 68% of new dwellings, rising year-on-year from 369 in the first half of 2012 to 597 in 2013.

According to KSH statistics, some 2082 new residential and 2321 non-residential buildings have received permits for the second half of this year, declines of 26% and 12%, respectively, from the first six months. 

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