The number of home building permits issued in Hungary rose by an annual 15.8% to 25,984 in the first three quarters of this year, the Central Statistical Office (KSH) said on Friday.
The number of permits issued for homes in Budapest went up by 99.3% to 8,400, while the number issued for homes in county seats and cities with populations over 50,000 edged up 1.0% to 4,517. In the country’s smallest settlements, the number of home building permits issued slipped 2.0% to 6,161. Late in July, Hungary’s government announced a two-year extension, until the end of 2024, of a temporary 5% preferential VAT rate for home construction. The number of home completions rose by 7.7% to 13,617 in Q1-Q3. Home completions in the capital fell by 10.1% to 4,533, but rose everywhere else. Detached homes accounted for 46% of completions. Homes in multi-storey buildings with multiple dwellings made up 42% of the total and homes in residential parks 9%. The average new home size was close to 94 sqm, nearly 7 sqm more than in the same period a year before. The share of homes built by businesses stood at 62%.