Home loan outlays jump 26% in H1

Sustainability

Home loan outlays rose by 26% in the first half of 2017 compared to the equivalent period of 2016, reaching a total of HUF 264 billion, according to a summary of data compiled by the Central Statistical Office (KSH) and cited by state news agency MTI.  

The number of new home loan contracts was up 16.6% at 46,900. The average loan amount per contract was HUF 5.6 million, compared to HUF 5.2 mln in the base period.

Some 74% of loan outlays went towards purchasing resale homes, around 7.2% was used for purchasing new homes, and 9.6% was for home construction.

Around 6.1% of loans were used for renovations, and 2.2% for refinancing existing loans. 

Banks made 46.9% of new outlays in H1 2017, compared to 45.5% in H1 2016. The share of outlays from mortgage institutions edged up from 26.4% to 27%, but loans from building societies edged down from 24.8% to 22.1%.   

At the end of June, total home loan outlays stood at HUF 2,917 bln, up by a marginal HUF 5 bln compared to the start of the year. Total home loan outlays equaled 8.3% of GDP.

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