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Home building permits fall 10.5% in H1

New homes were still coming on to the market in the first half of 2005, but, at the same time, there were signs of a slowdown. The number of home building permits issued fell 10.5 % in the first half of 2005 year-on-year, the Central Statistics Office (KSH) reported. At the same time, the number of new homes on the market was up 10.7% compared to the same period last year. Residential buildings accounted for 10,059 of completed buildings. A total 2.22 million square metres of residential building space and 1.82 million square metres of non-residential space came onto the market in the first half. The average area of new homes on the market fell from 95.4 square metres to 89.3 square metres compared to H1 2004. The
percentage of homes under 60 square metres increased from 28.5% to 33.7%, while the number of homes larger than 100 square metres decreased from 36.1% to 31%. Based on building area, 30.7 % of building permits issued in H1 were for sites in Budapest. The capital accounted for about the same number of new homes coming onto the market. The number of new homes coming onto the market in Budapest rose 15.5 % yr/yr in H1. Outside of Budapest, the number rose 78.8 % . Overall, the number of new homes on the market rose 10.7 % during the period.