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Hungary’s Central Bank Mulling Ways To Cheapen Mortgages
Hungary’s central bank will in the future focus on the mortgage market which it sees as sclerotic while its products are too expensive, Márton Nagy, the National Bank of Hungary’s deputy governor, said in an interview to the daily Magyar Hirlap. In the interview published on Thursday, Nagy said the bank wanted to ensure a fast expansion of mortgages in the next few years. “Now a fresh mortgage market is being built on forints and its structure must be sound,” he said. more »
Cordia Plans €140mn Property Project
Cordia, a residential property company within the Futureal group, has bought the remaining construction sites in the Sasad Resort in Budapest’s 11th District from GTC Magyarország, paying €9.6 million. more »
Construction Sector Output Continues To Fall In Dec
Hungary’s construction sector output dropped by an annual 14.9% in December last year, falling for the twelfth month in a row, the Central Statistical Office (KSH) said. The December drop in output was almost unchanged from the 14.7% annual fall in November 2016. more »

Chinese Top List Of Foreigners Buying Hungarian Homes


Chinese Top List Of Foreigners Buying Hungarian Homes
Chinese citizens were the most active group among foreigners buying homes in Hungary last year, followed by Russians and Ukrainians, according to official data. Irish and Spanish investors have almost entirely disappeared from the market. more »

Hungarian Commercial Real Estate Market Grows 107% In 2016


Hungarian Commercial Real Estate Market Grows 107% In 2016
Investors spent EUR 1.54 billion in 2016 on the Hungarian commercial real estate market, surpassing the 2015 level of EUR 745 million by 107%, says a press release sent to the Budapest Business Journal by real estate services firm CBRE Hungary. more »

Housing Subsidy Contracts Total Huf 9.6 Bn In Dec


Housing Subsidy Contracts Total Huf 9.6 Bn In Dec
Applicants looking to take advantage of the government’s home purchase subsidy scheme signed contracts worth a record 9.6 billion forints (EUR 30.8m) in December, a state secretary for the prime minister’s cabinet office said. Altogether 36,000 applications have been received since the programme’s introduction in 2015, totalling 87 billion forints, Csaba Dömötör said. more »



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