Home building permit issues up by one-third in Q1-Q3

The number of home building permits issued in Hungary in Q1-Q3 rose an annual 32.7 percent to 28,411, data released by the Central Statistical Office (KSH) on Friday show.

The number of home building permits issued in Budapest rose 103.5 percent to 10,952. In county seats and cities with over 50,000 residents, the number was down by 4.6 percent at 6,075.

Late in 2015, 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 51.5 percent to 7,981 for the whole country and was up by 17.6 percent at 1,660 in Budapest.

Source: MTI