August 10th, 2012

Orbán banning Hungarian malls deepens property pain: mortgages

German discount retailer Lidl applied this year for 14 exemptions to Hungary’s ban on building stores larger than 300 square meters (3,300 square feet). None were approved. The restriction on large retail outlets, approved by Prime Minister Viktor Orban’s government in January, is adding further pain to a Hungarian commercial property market stung by taxes and penalties that have prompted banks to slash lending. The Economy Ministry rejected 35 of the 96 applications it received this year from companies wanting to build stores bigger than the size limit. Another seven were suspended or closed.

  • ThE_WoRd

    Can we blame the \Jews\ for this, as well?

  • wolfi

    If this goes on, we’ll have to return to shopping regularly in Austria again …

    Or maybe we’ll try Slovenia – have to look for prices there next week …

  • Abácsi

    “No more shops for foreign devils” Article from the Fidesz bible?
    Never mind the construction and supply chain jobs they create and taxes they generate.
    We can live on patriotism and rhetoric. The well-connected can live like kings off government contracts.

    • Feher Gyorgy

      Yes, Orban has done incredible things for our country and nowadays the economy starts to be a true fairy tale. Soon, economists will no longer talk about the BRIC countries, but HRIC countries with Hungary leading the way. Watch my words!

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