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NUMBER OF NEW HOME BUILDING PERMITS UP, HOME PRICES EXPECTED TO RISE

 

The number of home building permits issued in Hungary rose by 0.9% to 18,227 in the first half of 2019, data released by the Central Statistical Office (KSH) show. The number of home building permits issued in Budapest edged up by 0.6% to 6,153. The number issued in county seats and cities with over 50,000 residents fell by 3.2% to 3,978. The number in other cities was down 5.7% at 4,838, and the number in smaller communities jumped by 20.4% to 3,258. Meanwhile, a survey by economic research institute GKI forecast a 4 to 5% rise in home prices for the coming twelve months. New home prices are expected to climb 4 to 7 percent, the quarterly survey shows. The prices of centrally located homes in the capital could rise by 10%. GKI drew on responses from more than 1,200 companies and a representative sample of 1,000 people for the survey.