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Hungary’s asset manager holds 20,000 homes

Sustainability

National asset manager Nemzeti Eszközkezelő holds almost 20,000 foreclosed homes, after acquiring some 5,000 properties in the period of January-September, Hungarian daily Magyar Idők said today.

The company told the paper that since it began operations in 2012, its debtor bailout option has helped borrowers struggling with foreign currency loan repayments to get rid of a combined HUF 160 bln in liabilities.

National Eszközkezelő paid HUF 3.7 mln on average for a property while the average market value of the acquired homes is HUF 8.1 mln, Hungarian news agency MTI reported.

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