ADVERTISEMENT

Home building permits down 18.6% in Q1-Q3 2006

Sustainability

Hungary's building market continued to show signs of a slowdown in January-September 2006, with the number of new home building permits issued in the period decreasing 18.6%, and the number of new homes down 19.1% from a year earlier, the Central Statistics Office (KSH) reported on Friday.

There were 31,232 new home building permits in January-September 2006, and 18,800 new homes came onto the market. Alone in Budapest, the number of home building permits issued decreased 35.5% to 7,381 during the period, and the number of completed homes fell 34.6% to 4,756. The number of building permits has declined since late 2003 when the government placed restrictions on state-subsidized home loans. Observers add, however, that the home market has started showing signs of saturation.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.