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Hungary home sales jump as borrowers rush to join early FX mortgage repayment scheme

The number of homes sold in Hungary in November rose 25% over the monthly average for the year as borrowers rushed to participate in an early repayment scheme for foreign currency-denominated mortgages at discounted exchange rates, according to real estate broker Duna House.

Based on its own data as well as data from the Central Statistics Office (KSH), Duna House said 8,200 homes were sold in November. More than one-fifth of sellers were participating in the early forex mortgage repayment scheme, which was launched at the end of September.

Borrowers must declare their intent to participate in the government scheme by the end of the year.