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MNB: Home loan outlays rise almost 50% in Q1

Sustainability

Outlays of new home loans in Hungary rose 49.8% year-on-year in the first quarter, fresh data from the National Bank of Hungary (MNB) show. Home loan outlays rose to HUF 57.1 bln in January-March from HUF 38.1 bln in the same period a year earlier.

Loan outlays have been growing as the housing market has started to recover from the financial crisis. K&H Bank said today that it expects the home loan market to expand by 30-50% this year.

Last year, home sales climbed about 17% to 103,700, data from the Central Statistics Office (KSH) show. Sales are still down from pre-crisis levels: 154,100 homes were sold in 2008 and 191,200 in 2007.

Real estate broker Duna Houseʼs fresh estimate shows there were 12,118 homes sold in Hungary in April 2015, up 59% from the same month a year earlier.

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