Stats show further recovery of Hungary’s housing market

Sustainability

pixabay

The Hungarian housing market saw further recovery with the number of new dwellings built, home construction permits issued, and simple declarations concerning their construction all up last year, Hungarian Central Statistical Office (KSH) said today in first release of data.

Compared to the preceding year, 31% more (9,994) news dwellings were built in 2016. The total number of issued home construction permits issued and simple declarations was 31,559, more than two-and-a-half times higher than in 2015, according to data by KSH.

The number of dwellings built increased in all types of settlements, though there was a higher than average increase in towns of county rank (49%) and in Budapest (44%), KSH reported. However, the proportion of dwellings built by individuals fell from 59% to 49%, while that of dwellings built by enterprises increased from 39% to 50%, KSH added.

Among the newly built homes, the proportion of family houses fell from 60% to 51% and the share of homes in multi-storey, multi-dwelling buildings increased from 33% to 42%, KSH data shows, while the average floor-area of homes decreased by 7 sqm to 94 sqm.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.