Mortgage loan outlays could reach HUF 1-1.2 tln in 2021

Residential

Mortgage loan outlays in Hungary could reach HUF 1-1.2 trillion this year, according to listed real estate broker Duna House, writes napi.hu. 

Mortgage loan outlays came to HUF 928 billion in 2020. Duna House said the mortgage loan market was up 34% in the first half from a year earlier, with mortgage loan outlays exceeding HUF 364 bln in the second quarter, almost double their level in Q2 2020. 

In June alone, outlays exceeded HUF 136 bln, Duna House said, citing figures from the National Bank of Hungary. The company noted that the second half of the year tends to bring stronger figures and the market is supported by both intensive demand related to the home creation subsidies and the projected increase in home sales transactions in the autumn. 

Based on transactions brokered by Duna House, clients requested housing loans of HUF 17.8 million on average, typically in facilities with long interest periods. The average loan amount in Budapest was more than HUF 20 mln compared to HUF 10-15 mln in other parts of the country.

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