According to the ' Analysis of RICS European housing market in 2005 :
Between 2000 and 2003, and it' been a significant property boom during which prices have soared. The boom 'was spurred by a shortage of property, economic growth and substantial government subsidies for the financing of mortgages. In 2004, and 'following a decline of activity' of the activities' of the property market since government subsidies were stopped, and interest rates soared. Although the use of mortgages began to expand rapidly in recent years, and demand ', however, started from a very low base. The housing construction continues to be primarily commissioned by the owner of the house itself for direct consumption, although in recent years and 'developed strong housing industry.
In Hungary and 'has a long tradition of property' with direct employment. In the 80's. property 'direct ratio stood at 65%, with the remaining real estate assets in the hands of the state. Thus, by 2002 over 90% the housing stock was owned by 'the occupants of the house themselves, with only 4% remained in the hands of the state and much of the remaining free assets. Hungary now has the comparatively 'high employment of homeowners across the EU and one of the most' highest in the world.
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