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February 23rd, 2018

Hungarian Construction Industry Grew by 35%

The construction industry closed with significant growth last year. According to Eurostat's analysis, Hungary's growth was the largest in the European Union: about 35 percent higher in December than in the same period last year. The data are also confirmed by the Hungarian statistic office’s data for Hungary.

Compared to the data analyzed in November 2016, production increased by 30.9 percent in November 2017, while the December period was about 35 percent higher than in the previous year same period. As a result of this, a 30.1 percent increase took place in building construction and this section is expected to increase further in 2018. According to experts, up to 25,000 new homes may appear for long term rent in Budapest.

The second highest growth in the EU was 21.2 percent in Slovakia. The Spanish construction sector is in the worst situation; growth has fallen with 13.5 percent. As a matter of fact, the EU average has only increased by 1.5 percent; therefor Hungary's performance is significantly higher than the average. 

In other countries, there is a strong growth rate if we consider that Romania has the highest monthly growth rate of about +4.5 percent. This value in France was +4.2 percent and in Hungary +3.9 percent.

Further details can be found in the study published by Eurostat: 

http://ec.europa.eu/eurostat/documents/2995521/8677807/4-19022018-AP-EN.pdf/ffc6485a-378d-4582-833a-4358778abb46

Sources:

http://hvg.hu/ingatlan/20180219_Igy_huzott_el_a_magyar_epitoipar_a_tobbi_unios_tagallametol

http://ec.europa.eu/eurostat/documents/2995521/8677807/4-19022018-AP-EN.pdf/ffc6485a-378d-4582-833a-4358778abb46

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