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18. HOUSING

Dwelling

Housing stock (by the definitions of the population census):

Dwelling: a technically (architecturally) interconnected group of premises built for the purposes of permanent human residence or converted into a dwelling suitable for managing a whole or a part household (living, cooking, sanitary etc. premises) with an independent door to a public area, garden or common space within a building (corridor, staircase etc.).

Room: a living premise, with useful floor space of minimum. 4 m², provided with window and door, so it has direct lighting and ventilation, serving for sleeping or daytime stay.

Number of rooms: grouping by the number of rooms has been done on the basis of the total number of rooms within a dwelling, irrespective from their size (basic floor space).

Housing stock data are based on the final results of the 2022 census. The number of dwellings contains occupied and empty dwellings and occupied holiday houses.


Dwelling construction

Dwellings and holiday houses built: new dwellings, holiday houses, respectively, which received put to use permit in the reference period. Dwelling: by dwelling a technically architecturally, interconnected group of premises (rooms, offices and others) suitable for rest and home activities, cooking, eating, lavation, washing, use of toilet and for storage of goods necessary for the management of the household. The dwelling has to have at least one living room with a floor space exceeding 17 sq.m.and has to be heatable. Holiday house: a building for temporary stay and recreation, suitable for managing a household and consisting of one or more units.

Builders: economic units or natural persons on whose commission and from whose financial resources the dwelling or holiday house construction is carried out.

Local governments as dwelling builders: local governments of villages, towns, the capital and its districts, and of the county as well as corporations established by them for public services. Central budgetary institutions as dwelling builders: ministries, national authorities and independent organizations with legal entity established by them to carry out a definite task. Enterprises as dwelling builders: corporations with legal entity. Natural person as dwelling builders: own-buildings built by individuals and households from own-sources (cash and loan) mainly for private use.

Ceased dwellings: dwellings ceased in the reference period due to elementary damage, demolition, or conversion according to the registration of local governments.

Construction permits

Residential building: on the basis of a building permit, a simple or controlled notification a building should be regarded as residential when the major or entire part of it (more than 50% of its built-in net area) is used for dwelling purposes.

Non-residential building: buildings used for official, administrative, commercial purpose, for tourism, entertainment, education, health care, sport, transport and telecommunication, industrial and agricultural activities and buildings serving other purposes.

Useful floor space: that part of the whole basic floor space surrounded by plastered or covered walls, where the inner height is minimum 1.90 m.

Housing loans

Statistical data on housing loans and subsidies are collected in the framework of data collection nr. 1868 titled 'Report on housing loans provided to households'.

Loans with government subsidies are mortgages and loans with additional interest subsidies.

Purpose of loan and subsidy:
Construction: building of a new dwelling, building in a new storey in the attic area of one-family or semi-detached houses. In case of a builder with three or more children building in the attic is also regarded as construcion.
Buying a new dwelling: the purchase of a newly constructed home.
Buying a second-hand dwelling: the purchase of a used dwelling.
Modernizing, enlarging: modernization raises the degree of comfort, enlargement increases the floor area of the dwelling.
Redemption (bridging loan): credits provided until 2013 to finance an expected income typically from selling an old property in order to buy another one.
Refinancing: the replacement of an existing housing debt with another loan under different terms.
Other: home purchase goals not included in any of the above categories.
Qualifications: from 2018 on financial institutions have to classify claims due to accounting regulations in either performing or non-performing categories. Within each group, the restructured claims have to be shown separately.

Dwelling construction cost index

Dwelling construction costs: estimated costs incurred by the owner. It covers direct and indirect costs of home-building (construction) – exclusive of VAT – and the "fair&" profit of the contractor calculated at the given quarter‘s price level (It exclude – among others – the costs of real estate purchase the site preparation and contractor’s profit deriving from sales of dwellings)

Construction cost index: shows quarterly changes of the home-building costs of 1 m² floor space as compared to the same period of the base period (average cost in 2015) or to that of the previous year.

Labour cost index includes indirect labour costs i.e. the gross earnings of full-time employees based on the wage and staff data of corporations engaged in construction with more than 5 employees. In case of building material price index, indirect purchase price of building material used in the course of construction of the dwelling includes also transportation cost.

Methodological source: Construction cost index 1st quarter 2000 (HCSO, Budapest, 2000).

Housing price index

Housing price index: the total change in prices shows how the geometric average of housing prices change compared to the base period expressed in percentages. Based on the total change in prices a regression estimation is made to separate the so called composition effect, which is an index showing how the quality composition changes. The index of pure change in prices, which shows how prices would change along with an unchanged quality composition, is the quotient of the total change in prices and the composition effect. In July 2019, the methodology of composition index calculation has been revised. Due to the revision data of composition and pure price indices of 2017–2018 years have changed.

The change in the quality composition calculated on the basis of the available data may basically result from a rearrangement in the structure of home sales by type of building, settlement or size of dwelling, e.g. if there is a shift in home sales to areas with lower prices or smaller dwellings, it will appear as a composition decline in the housing price indices.

The observation of housing prices changes is based on data recorded during the stamp duty procedures, which refer to private transactions of whole properties. The identification of new home sales is based on the stamp-duty reduction available in case of new home purchases.

The aggregated housing price index is the weighted average of new and used dwellings' price indices. Weights are the total value of transactions of the previous year.

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