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FX home loans almost gone from Hungarian market
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At the end of 2014, FX mortgages in Hungary accounted for 52 percent of the total but at the end of June this year just 0.1 percent were denominated in foreign currency.
The value of FX mortgages in Hungary fell to 4.7 billion forints (EUR 15.3m) by the end of June 2017, down from 6.8 billion at the end of 2015, according to Central Statistical Office (KSH) data. This compares with a total stock of mortgages worth 2,917 billion forints (EUR 9.5bn).
The total value of home loans had been falling almost continuously since 2011.
Total home loan outlays equalled 8.3 percent of GDP at the end of June 2017.
Loans provided by banks accounted for 58 percent of the total at the end of June. Mortgage institutions provided 28 percent of loans, savings and credit cooperatives 3 percent and building societies 10.8 percent.
Hungarians had 640,000 home loan contracts at the end of H1.