Home sales in Hungary hit 3-year high in January on early repayment scheme.

By bne IntelliNews February 2, 2012
Sales of homes in Hungary hit a three-year high of 12,970 in January 2012 as Hungarians rushed to join a government scheme allowing them to repay early foreign exchange mortgages at exchange rates far below market rates, Napi Gazdasag daily reported citing data from real estate agency Duna House. The January 2012 sales were by two and a half times higher than in the same month of 2010. About one-third of all home purchase deals last month were aimed at investment. A total of 87,900 homes were sold in full-2011.

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