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Home building permit issues plunge in Q1

The number of home completions in Hungary fell by an annual 20 percent to 3,613 in the first quarter, data released by the Central Statistical Office (KSH) on Thursday show.

The number of home building permits issued fell by 38 percent to 4,989 during the period.

Fully 61 percent of the 3,613 homes completed were built outside the capital. Home completions in Budapest dropped by 42 percent to 1,404. The number edged down by 0.6 percent in county seats and cities with populations over 50,000 and fell by 4.2 percent in smaller cities. In Hungary’s smallest settlements, the number increased by 29 percent to 721, KSH said.

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