Number of foreclosed homes sold increases in Q2
A total of 2,947 foreclosed residential properties were sold in the second quarter, 605 more than in the previous quarter but only 37 more than one year earlier, show data published Thursday by the National Bank of Hungary (MNB) and cited by state news wire MTI.
Financial institutions sold 585 homes of the total, 105 more than in Q1 and 425 more than in Q2 2016. The greater part, or 344 of the properties sold by banks, had been designated for sale between late 2011 and the start of 2015, when legislation establishing designation quotas was in force.
Some 1,763 of the properties sold in Q2 were purchased by National Asset Management Zrt. (NET), a company set up by the government to purchase the homes of borrowers of troubled foreign currency-denominated loans under a government assistance scheme.
Debtors themselves sold a further 599 foreclosed properties in Q2 this year, 18 more than in the previous quarter but 131 less than one year earlier.
Similarly to previous trends, one quarter of Q2 sales occurred in Central Hungary, 11% in Budapest and 14% in Pest County.
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