Are you sure?

Completed home permits down 11%

The number of completed new homes in Hungary for which permits were issued fell 11% to 32,000 in 2009, while the number of building permits issued for homes plunged 35% to 28,400, the Central Statistical Office (KSH) said.

The number of completed new homes for which permits were issued rose 15%-18% in the first two quarters of the year, but dropped 23%-24% in the last two quarters, KSH said.

The number of completed new homes for which permits were issued in Budapest rose 9.6% to 10,385 in 2009, but the number of new building permits issued for homes in the capital fell 37.6% to 7,540.

Homes built by their future occupants accounted for 14,450 of the total completed in 2009, while 16,880 were built to be sold and just 580 to be rented out.

The number of new home building permits issued was down as much as 53% in some parts of the northeast of the country.

Building permits were issued for a total area of 2,753,300 square meters of residential space in 2009, down 31.2% from the previous year. Permits were issued for a combined area of 568,500 square meters in the capital, down 36.1%.

The average area of completed homes for which permits were issued was 89 square meters, about the same as in 2008. A little less than one-third were larger than a hundred square meters.

The number of permits issued for non-residential buildings in Hungary fell 35.5% to 5,210 in 2009. The area of the buildings for which the permits were issued slipped 26.0% to 3,364,900. (MTI – Econews)