Home Building Permit Issues Plunge in Capital, Jump Elsewhere
The number of home building permits issued in Budapest plunged in the first quarter while jumping in the rest of the country, the Central Statistical Office (KSH) said on Wednesday.
At the start of the year, the government slashed the VAT rate on home building to 5 percent from 27 percent.
Overall, number of home building permits issued edged down 1 percent to 6,946.
The number of home building permits issued in the capital fell by an annual 79 percent to 757 in Q1. During the same period, the number issued in county seats and cities with populations over 50,000 increased by 77 percent, to 1,721. The number issued in smaller cities grew by 82 percent, to 2,636, and the number issued in villages rose by 84 percent, to 1,832.