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The government’s recently announced fixed-rate mortgage loan with a preferential interest rate of three percent, designed to help young people buy their first home, has been met with criticism from the opposition. Hence the Szent István Institute, in cooperation with the Nézőpont Institute, conducted a representative survey of 1,000 people to find out what Hungarians, especially young people, think about the most important issues of housing and family support.
The first question focused on which form of housing the state should primarily support. The results are clear: nearly 60 percent of respondents would support the purchase of owner-occupied homes, while only one-third (33 percent) would prefer the construction of rental housing. The commitment to home ownership is even stronger among respondents in rural areas, with nearly 70 percent choosing this option. More than 70 percent of 18-39 year olds would prefer to buy their own home, which, according to the researchers, reflects a desire for stability and future planning. Only in Budapest is support for rental housing programs higher (49 percent), which may be a consequence of the metropolitan lifestyle and higher real estate prices.
The research points out that in Hungary, many people consider the amount spent on rent to be “money down the drain” and would rather take out a long-term loan to buy their own home. There are historical reasons for this: the political and economic uncertainties of the 20th century, nationalization, and the change of regime all strengthened the desire for property.
According to research by the Századvég Europe Project, Hungary not only has the highest percentage of people who want to own their own home, but actual home ownership is also 90 percent.
The second question examined whether the most effective form of state support for families would be tax breaks for everyone or targeted support for those in need. Fifty-two percent of respondents support a universal system, while 43 percent favor a targeted, social-based solution. The demand for universal benefits is particularly strong among young people (aged 18-39), where it exceeds 60 percent, and among those living in smaller rural settlements (nearly 60 percent). In contrast, targeted support is slightly more popular among Budapest residents and those over 60.
Based on the study, Hungarian society does not view child-rearing as merely a social issue, but as a value that enriches the community as a whole and should be recognized by all families. The results show that owning a home, having a family, and having more children are not ideals of the past, but remain strongly present in Hungarian society. According to the researchers, it is worth building on these deeply rooted social needs when shaping future family policy.
Via Mandiner; Featured image: Pixabay