Completed home permits drop 20% in Q1-Q3

Sustainability

The number of permits issued for completed homes in Hungary declined 20.1% to 6,509 in January-September from the same period a year earlier, the Central Statistics Office (KSH) said on Monday.

The number of building permits issued for homes fell 12.1% to 7,7894 in the same period. The declines slowed from the full year of 2011, when the number of completed home permits issued fell 39.2% and the number of building permits issued dropped 28.0%.

The number of completed homes peaked in 2004 and has fallen each year since 2007, including a 39% drop last year.

The number of building permits issued for homes has fallen every year since 2004, and fell 28% in 2011.

Permits issued in Q1-Q3 for the construction of residential buildings were for a total useful space of 845,000 square metres, 11.9% less than a year earlier, KSH said.

The number of the permits fell 13.7% yr/yr to 4,457 in Q1-Q3 2012.

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