Hungary’s largest residential housing developer has announced plans to increase its building programme in Budapest by 1,000 units next year.

It said this was a response to rising demand and a shortage of available housing, according to Hungary Today.

Cordia Homes said the extra homes would add 120,000 sq m of residential space to the city. Housing supply in the Hungarian capital fell to 6,000 homes last year, which is less than demand.

The company has completed more than 11,000 apartments in Hungary, Romania and Poland over the past 20 years. It is currently developing an additional 4,500 units, divided into 19 projects, and has a further 11,200 homes in the pipeline.