KSH: Hungary’s home building permits jump 44% in Q1

Office Market

The number of permits issued for new home construction jumped by a year-on-year 44% reaching 2,381, in the first quarter of 2015, data from the Central Statistics Office (KSH) revealed today. New permits were issued for a total area of 260,200 sqm, up by 40%, while the number of new home completions fell 7% to 1,572, KSH added.

The office said that the proportion of dwellings built by individuals remained unchanged at 56%, the proportion of dwellings built by enterprises was 44%, while in Budapest 82% of all dwellings were built by entrepreneurs.

By purpose of construction, 54% of homes were built for own use and 45% for sale, KSH said, adding that the average floor-area of homes put to use was 100 sqm, 1 sqm more than a year ago.

Among the newly built residential buildings, the proportion of detached houses decreased from 55% to 54%, that of multi-story and multi-dwelling buildings fell from 42% to 25%, and as several projects were completed in the capital, the proportion of dwellings built in residential parks increased from 2% to 18%, KSH said.

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