Hungarians take out ever increasing loans

napi.hu, 1 October 2018 – Banks do not mess around when approving loan applications: clients are notified about the result within three weeks. Despite an ever growing demand there is no congestion in the approval procedure: banks pass their decisions within no more than 15 working days. The processing time of standard mortgage applications submitted to UniCredit Bank is 9 working days, while “client friendly residential loans” are processed within 7-8 days.

Processing is completed within five working days at K&H Bank, provided that a full set of documentation is available. According to CIB Bank processing times have become shorter since the introduction of “qualified client friendly residential loans”.

Almost all banks reported an increase of the volume of loans compared to the same period last year. In 2018 the average loan applied for by clients of UniCredit Bank exceeded HUF 13 million, which is an almost 20 per cent increase from last year. The average loan at K&H Bank is almost HUF 10 million, compared to HUF 9 million last year.

Demand for housing was weak for most of 2023, but by the end of the year interest had increased, and from the beginning of 2024 the Csok Plus programme boosted the market

hvg.hu 16.04 In the first quarter of this year, home buyers took advantage of the new subsidy option in almost exactly one sixth of the loans, 16.7 percent. Of course, it was not only the Csok Plus programme that helped, but also the fact that interest rates have started to fall and inflation has also […]

Second highest house price increase in the EU since 2010 in Hungary

hvg.hu, 04 04 – In the last quarter of 2023, the average price of housing in the EU was 48 percent more expensive than in 2010 – Eurostat said. House prices in Hungary rose by 185 percent between 2010 and 2023. This is the second highest increase in the EU, with only Estonia 217 percent […]

Heirs left in the lurch at the probate hearing

napi.hu, 20.01 – Cryptocurrencies, social media profiles or documents stored in the cloud are increasingly common in probate proceedings. However, few people know that in lack of proper regulation and provisions, access to crypto currencies can be questionable for heirs, or that tech giants only allow access to deceased people’s data to those entitled to […]

Property and mortgage market data

napi.hu, 18.01 – More than a third of Budapest clients signed contracts for over HUF 20 million last year. Between September and December, for example, their share was 42%, which reflects an increase of 10 percentage points in 2021. The number of applications in this value range has increased steadily from quarter to quarter, to […]

Real estate prices have increased on the back of CSOK