A multi-year negative trend in the construction and sales volume of residential properties has been turning positive, according to available data compiled by the Hungarian Central Statistical Office, Eurostat and the National Bank of Hungary. The property market usually reacts slowly to market changes and rebuilding capacities scaled down during a crisis is a lengthy process. However, the rising number of building permits, rising property price indices, a supportive government policy (incentives such as the Family Housing Allowance and lower VAT on the sale of new properties) and sound international macro-economic environment (low inflation, low interest rates) can maintain favourable processes also in the long term.

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(Ministry for National Economy)