Capital home buyers take out a HUF 21 million mortgage, on average
Banking
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Homebuyers in the capital who took out mortgages in the first quarter borrowed an average of HUF 21.1 million, up from HUF 18.4 million in the same period a year earlier, MTI reports, citing a quarterly report from the real estate broker Duna House.
The average mortgage for buying a home in the west of the country fell from HUF 12.2 million to HUF 15.5 million during the period, while home buyers in the east of Hungary contracted HUF 13.4 million, compared to HUF 11.9 million a year earlier.
The loan-to-value ratio for homes purchased in Budapest fell to 36% from 42%. The LTV ratio fell to 42% from 44% in western Hungary, but remained unchanged at 41% in eastern Hungary.
Mortgages with interest periods of at least 10 years accounted for about 90% of total loan contracts signed in the first quarter.
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