• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
Home building permit issues more than double in H1Home building permit issues more than double in H1Home building permit issues more than double in H1Home building permit issues more than double in H1
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Support us
Alexandra Béni Alexandra Béni · 29/07/2016
· Business

Home building permit issues more than double in H1

building construction statistics
home construction

Budapest, July 29 (MTI) – The number of home building permits issued in Hungary in the first half of 2016 rose by an annual 137.2 percent to 13,236, data released by the Central Statistical Office (KSH) on Friday show.

The number of home building permits issued in the capital rose by 190.5 percent to 3,745. In county seats and cities with over 50,000 residents, the number climbed by 175.3 percent to 3,837.

Late last year, Hungarian lawmakers lowered the VAT rate on home construction from 27 percent to 5 percent and eased rules for obtaining building permits. Around the same time, the government launched a home purchase subsidy programme for families with children.

The number of completed homes rose by 10.9 percent to 3,420 for the whole country and was up by 8.6 percent at 981 in Budapest.

Among newly built residential buildings, the percentage of detached homes dropped from 54 percent to 43 percent while that of blocks of flats rose from 35 percent to 46 percent, KSH said.

KSH noted that the percentage of homes built by property developers, as opposed to private individuals, rose from 43 percent to 54 percent in the first half.

The average size of new homes was 92sqm, down by 7 percent from a year earlier.

Analyst Lászlo Balogh of property market website ingatlan.com said the long-awaited turnaround has arrived on the market for new homes, with supply beginning to approach increased demand.

Latest data from ingatlan.com also support the market recovery, he said, adding that the number of newly built residential properties offered for sale in July was up by an annual 25 percent.

The substantial increase in the number of building permits projects further growth in the number of new homes next year, he added.

Source: MTI

building construction statistics
Share
Alexandra Béni
Alexandra Béni

Related posts

wizz air plane
13/08/2022

No stopping — Wizz Air may raise fares even further, says president


Read more
Real estate blocks of flats Hungary Budapest
13/08/2022

Beware: these real estates will soon be unsellable in Hungary!


Read more
China-investment-battery
13/08/2022

Chinese battery giant to invest 7.6 billion euro in Debrecen


Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.


Latest news
  • What happened today in Hungary? – August 13, 2022
  • Debrecen University to participate in EU HORIZON space R+D
  • No stopping — Wizz Air may raise fares even further, says president
  • Government took entire streets and squares from the Budapest city council
  • TOP 8 Hollywood stars who speak Hungarian – VIDEOS
  • Does the government threaten Hungarian forests? – forestry company
  • Beware: these real estates will soon be unsellable in Hungary!
  • Chinese battery giant to invest 7.6 billion euro in Debrecen

About us

Contact us

© 2022 DailyNewsHungary. All rights reserved!