Abstract
Introduction
Gross advances in the Hungarian mortgage market grew at a rate of 34.8% from
2005 to 2006. A number of drivers are behind this significant growth such as
the existence of state subsidies on mortgages loans. What are the current
issues facing this market? Who are the biggest lenders? What will be the size
of the sector in the next five years? This report provides the answers.
Scope
Covers the residential mortgage market. Provides market sizing data in terms
of gross advances and balances outstanding. Provides competitor market share
for the top four players in terms of balances outstanding. Looks at housing
policies, regulations and issues in the mortgage market.
Highlights
According to the most recent data, Hungary has one of the highest
owner-occupation rates in the world at 92.2% in 2003. Hungarians have a long
tradition of being owner-occupiers. Moreover, a change in housing ownership
status of many dwellings from state ownership to owner-occupation has meant
that this rate has been pushed further upward. There is no clear trend in the
movements of typical mortgage interest rates in Hungary since they have not
followed the movements of the central bank base rate. For instance, the latter
stayed stable during Q4 2005- Q1 2006 whereas typical mortgage interest rates
increased in Q4 2005 and fell in Q1 2006. While Hungary' s mortgage balances as
a percentage of GDP has increased significantly over the years from 4.5% in
2002 to 10.8% in 2006, the percentage point increase on a year-on-year basis
has fallen steadily.
Reasons to Purchase
Learn how the Hungarian residential mortgage market has developed over the
last five years. Understand the recent developments in the mortgage market in
terms of regulations and competitor shares. Find out Datamonitor' s opinion on
the future performance of the Hungarian mortgage market over the next five
years and its future prospects.
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