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Home loan outlays reached HUF 605 bln in 2017

Home loan outlays in some 105,000 loan contracts reached HUF 605 billion in 2017, a summary of data published by the Central Statistical Office (KSH) shows. The number of contracts rose by 23% and outlays by 33% compared to 2016.   

Last year a total of 96,000 home loan contracts were approved to the value of HUF 642 bln. At the end of 2017, the home loan portfolio of financial institutions stood at HUF 3,015 bln, up 3.5% annually, state news wire MTI reported.

Banks held 57% of the total portfolio, mortgage institutions 28%, and home savings banks 12%.

The number of those taking advantage of the home purchase subsidy scheme for families with children, known by its Hungarian acronym CSOK, was 29,104 in 2017, up from 20,755 in 2016. 

Credit institutions disbursed HUF 70.1 bln in home purchase subsidies last year, 48% more than in 2016. Some 65% of the subsidies went towards purchasing a new home.