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Home building permits rise 30% in Hungary

Office Market

The number of permits issued for new home construction rose 30.4%, reaching a total of 6,947 in the first three quarters of 2014, Central Statistics Office (KSH) revealed today. New permits were issued for an area exceeding 799,300 sqm; this figure was up by 27.0%.

The number of completed new home rose by 26.8%, reaching 5,168 in Q1-Q3. KSH noted that this figure was still extremely low – well below pre-crisis levels.

The number of permits issued for non-residential buildings rose 1.6%, reaching 3,889. Industrial buildings accounted for 23% of all buildings. Farm buildings made up 22%, while commercial buildings made up just 4%.

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