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Home building permits down 8% in Q1 2006

Hungary's building market continued to show signs of a slowdown in January-March 2006, with the number of new home building permits issued in the period decreasing 8% and the number of new homes down 0.9% from a year earlier, the Central Statistics Office (KSH) reported on Thursday.

There were 9,858 new home building permits in January-March 2006, and 7,118 new homes came onto the market. The number of building permits has declined steadily since late 2003 when the government placed more restrictions on state-subsidized home loans.