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Dramatic drop in home sales yr/yr

There were 18,300 homes sold in Hungary in the first three months of 2013, real estate broker Duna House toldMTI. The figure was well under the more than 30,000 homes sold in the same period a year earlier, when a temporary government scheme that allowed early repayment of foreign currency-denominated mortgages at discounted exchange rates gave sales a big boost, but practically level with the 18,600 homes sold in Q1 2011. The nationwide home price index was 81% nominally and 64% in real terms compared to Q1 2008, Duna House said. The prices of pre-fab homes were 85% and 68%, and those of homes in brick buildings were 77% and 61%, respectively, of Q1 2008. Pre-fab homes fetch the most in the NW area of Budapest, HUF 253,000/square metre on average, and brick homes are the most expensive also there, with re-sale prices of HUF 328,000/square metre on average. Homes are cheapest in NE Hungary where pre-fabs go for HUF 101,000/square metre on average, and brick homes cost HUF 115,000/square metre, Duna House said.