Housing

The first three quarters of 2019 saw a 10.0% year-on-year decline in aggregate sales. This was driven by an 11% decline in second-hand housing sales, which could not be offset by an 18% expansion in the much smaller market for new homes. Prices increased by 15% for second-hand homes and by 9.5% for new homes compared to 2018. Prices averaged HUF 29.8 million for new homes and HUF 16.9 million for second-hand homes.

In the first three quarters of 2019, 10,302 new dwellings were built, 0.8% more than a year earlier. Based on issued dwelling construction permits and simple declarations, the number of homes to be built increased by 2.7% to 27,388 compared to the same period of 2018.

As a result of the expansion of non-subsidized market loans, the housing loan portfolio continued to grow. The number and amount of housing loans disbursed in the first half of the year also increased. Compared to a year earlier, the amount of loans disbursed grew for second-hand homes and fell for new homes. The total amount of loans granted for the construction and purchase of new homes was close to three-tenths of those spent on second-hand homes. Between 2016 and 2018, CSOK was used on average for every sixth housing transaction.

The yearbook is a data compilation on construction permits and simple declarations, dwelling constructions and cessations, housing stock, housing market and the management of municipalities. Data on average construction costs and the main figures of housing loans as well as data of dwellings purchased by the National Asset Management Company are also available here.