Hungary, the country of constructions set new records last year

In general, 2018 was a significant year for Hungarian investments and constructions because no other year has shown this sharp increase in the number of construction works. Although in the second part of the year their number somewhat decreased, it was still a significant year with impressive numbers and statistics data.

Portfolio reported that from the approximately 2,400 billion HUF (7 million EUR) only 953 billion HUF was used in the second part of 2018 (3 million EUR). The second half of last year showed a rapid decrease which was unexpected because no other year has suffered from the lack of constructions in the year’s second part (July–December). The number of developments in this period of the year decreased by 21%.

The field of structural architecture showed an intensive increase. Last year approximately 1,400 billion HUF were spent on building different kinds of buildings across the country (4 million EUR). This is a 4% increase since 2017.

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The low apartment and flat buildings sales at the beginning of 2018 showed a decrease by 20% but did not have any effect on structural architecture. This phenomenon was strengthened by the fact that in 2017 the architecture sector focused on buildings which would not function as flats and apartments for Hungarian residents – the number of these buildings increased by 17%.

Between July and December 2018, the construction works of these buildings valued approximately 538 billion HUF (2 million EUR).

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The building of roads, railways, tunnels, canals, etc. showed a significant decrease in the second part of 2018 even though at the beginning of last year the number of these projects were the most in the country. These works valued approximately 1,021 billion HUF in 2018 (3 million EUR). The number of new roads and railways decreased rapidly since 2016 and 2017. While two years ago these constructions valued approximately 336 billion HUF (1 million EUR) last year only 84 billion HUF (258 million EUR). This only happened in 2015.

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Most of these construction works started in the Central-Hungarian region. According to the statistics, new works began in 2018 on 42% of the region’s area.

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Featured image: www.facebook.com/nifzrt

Source: www.portfolio.hu