KSH: Construction output climbs 27%
Output of Hungary's construction sector climbed 27% year-on-year in the first nine months of 2014, the Central Statistics Office (KSH) said in its report published yersterday.
Compared to the same period of the previous year, 9% fewer homes were built in larger towns, while there were increases of 44% and 56% in smaller towns and villages, respectively. At the same time, there was a 31% increase in the number of homes receiving occupancy permits in Budapest.
In the first nine months of 2014, the composition of the group of builders has slightly changed year-on-year. The proportion of homes built by individuals grew from 57% to 61% and the proportion of homes built by businesses fell from 40% to 38%.
Of the homes built in Budapest, 67% of were built by entrepreneurs.
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