Sales designations of foreclosed properties under quota

Analysis

Hungarian lenders designated the sale of 5,050 foreclosed properties in the six months until the end of March, under a quota established by legislation in force from October 1, financial market regulator PSzÁF said on Tuesday.

The legislation limited banks to designating 2% of homes in their non-performing loan portfolios for sale in Q4 2011. The quota is 3% per quarter in 2012.

Banks used 78.4% of the quota in Q4 and 82.5% in Q1, PSzÁF said. Most of the homes declared for sale were in Budapest and Pest County, it added.

There are more than 100,000 homes in banks' NPL portfolios.

ADVERTISEMENT

Farm, food industry confidence improves slightly in Q2 Analysis

Farm, food industry confidence improves slightly in Q2

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.