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Number of homes built in capital plunges in 2011

About 3,000 homes in 169 projects will be completed in Budapest this year, down 40% from 2010, according to a survey by OTP Bank's mortgage arm.

The average size of projects in the capital has dropped from 30-40 homes before the crisis to just 17, OTP Mortgage Bank said.

About 3,400 new homes, built in 405 projects, some completed as long ago as 2004 and 2005, still stand empty. The biggest number of these homes, about 600, can be found in District 13. More than 400 such homes can be found in both District 11 and District 3.