Home loan outlays jump 26% in H1
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.
ADVERTISEMENT
Continental Dohányipari Revenue Nears HUF 64 bln in 2022
Parl't Approves Amendments to Legislation on Judiciary
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.
