Number of homes built in capital plunges in 2011
About 3,000 homes in 169 projects will be completed in Budapest this year, down 40% from 2010, according to a survey by OTP Bank's mortgage arm.
The average size of projects in the capital has dropped from 30-40 homes before the crisis to just 17, OTP Mortgage Bank said.
About 3,400 new homes, built in 405 projects, some completed as long ago as 2004 and 2005, still stand empty. The biggest number of these homes, about 600, can be found in District 13. More than 400 such homes can be found in both District 11 and District 3.
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.