The confiscated houses in Hungary were sold at auction

The confiscated houses in Hungary were sold at auction

Houses, seized for debts on mortgages, were put up for auction  in Hungary. Most of the objects (5500 houses) are in Budapest and its surroundings.

In total, 20,912 homes will be sold at the auction, accounting for almost a fifth of the property whose owners whose owners could not pay off the mortgage loans for more than three months, , according to ee24 Daily citing Realdeal.hu.

To date, only a small proportion of the houses is sold, and the number of credits that will likely never be repaid are estimated at €3,05 billion.