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Home Loan Outlays Halved in H1

Banking

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Home loan outlays in Hungary dropped 50% year-on-year to HUF 294 billion in the first half, state news wire MTI reports, citing data compiled by the Central Statistical Office (KSH).

The number of home loan contracts signed during the period dropped 45% to 27,000.

About 62% of outlays were for resale homes. Those loans were HUF 13.6 million on average.

Loans for purchases of new homes, including homes built by their owners, made up 29% of total outlays. The loan size for the purchase of new homes averaged HUF 18.1 million.

Loans for home renovation and additions accounted for 5% of outlays.

KSH noted that the stock of outstanding home loans stood at HUF 4.914 trillion at the end of H1, edging down 0.3% from the end of 2022, falling for the first time since 2016.

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