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10,000 housing units to be built in '05

Nearly 10,000 new housing units are expected to be completed in Budapest before the end of this year, the same amount as in 2004, a national paper said on Friday. The daily Népszabadság cited Richard Ongjerth, head of urban research center Studio Metropolitana, and said that approximately 16,000 units were being built in the first half of the year in private projects of at least 50 units each, of which 3,000 had been completed, and a further 6,700 would be finished before year-end. Ongjerth said that most housing units were built for sale, a mere 230 units having been completed for the rental market since January. (MTI)