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Hungary home building permits rose in January-March

The number of home building permits rose 15% yr/yr to 6,600 in the first three months of the year, however the number of new homes put on the market fell 7% to 8,400, the Central Statistical Office (KSH) said on Wednesday.

In the previous quarter, the number of homes put on the market dropped 1.0%, while the number of new permits issued in November and December fell a sharp 10.0%.

Property developers built 46.8% of new homes in the period. Private individuals built the rest, most of them to live in.

New homes were an average 90.6 square meters during the period, compared to 91.6 square meters during the previous quarter, the biggest area in three years.

Home building continued to be concentrated in central Hungary. One-fifth more new homes were put on the market in Pest County, while the number of new permits issued rose 21.0% in Budapest. (MTI-Econews)