Home Building Permits in Q1 Falls 37.6% y.o.y.
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The number of home building permits issued in Hungary fell 37.6% year-on-year to 4,989 in the first quarter, according to data released by the Central Statistical Office (KSH) yesterday.
The number of permits issued for homes in the capital slipped 16.1% to 1,743, while the number given for homes in county seats and cities with populations of more than 50,000 fell 27.5% to 905.
The number issued in smaller cities plummeted 50.1% to 1,287. In the country's smallest settlements, home-building permits fell 49.7% to 1,054.
Last summer, Hungary's government announced a two-year extension of a temporary 5% preferential VAT rate for home construction until the end of 2024.
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