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Completed homes drop 38.4%, home building permits down 34.8% in January-September

The number of completed new homes in Hungary for which permits to use were issued declined 38.4% yr/yr to 8,147 in the first nine months of 2011, the Central Statistics Office (KSH) said on Monday.

The number of building permits issued for homes fell 34.8% from a year earlier to 8,869 in January-September 2011.

The number of completed homes fell at a somewhat bigger pace than in the previous quarter; the drop of newly issued building permits slowed from a year earlier, KSH noted.

Permits issued in the first nine months for the construction of residential buildings were for a total useful space of 959,400 square metres, 26.6% less than a year earlier, KSH said.

The number of completed new homes in Hungary with permits issued dropped 35% to 20,823 in 2010. The number of building permits issued for homes fell 39% to 17,353 in 2010, earlier KSH figures show.