New homes in Hungary down 20.1% in Jan-Sep 2012.

By bne IntelliNews November 6, 2012
The number of newly-built housing units in Hungary shrank 20.1% y/y to 6,509 in the first nine months of 2012, the statistics office said in a statement. The contraction follows last years record-low level of only 12,655 new units, down 38.2% in comparison to 2010. Budapest saw the sharpest decrease of 57.7% y/y in newly-built units in January to September 2012. The number of new homes in other towns and villages declined 5.8% y/y and 20.9% y/y, respectively. On the other hand, new units in county towns saw a 25% y/y increase, which only partly offset the drop in the former three categories. The number of construction permits for residential buildings fell by 13.7% y/y to 4,457 in Jan-Sep. They envisaged a total useful floor area of 845,000 square meters, down by 11.9% y/y. In contrast, the number of permits for non-residential buildings increased by 16.5% y/y to 4,223 in Jan-Sep, while the aggregate useful floor area for this type of permits grew by 25.7% y/y to 1.88mn square meters.

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