Hungarians want their own home, researcher says
According to an economist from the Szazadveg Gazdasagkutato think tank, the majority of Hungarians want to own their own homes and are willing to make sacrifices to do so.
The government’s housing creation assistance program is part of broader measures to help young families with children afford their own housing, Istvan Lorand Szakali said in an interview with the daily Magyar Nemzet.
The program launched in July 2015 has had a big impact on the construction of new homes, he said in the interview released on Saturday. In 2015, 7,612 new homes were built, while in 2020 they were 28,208, giving a boost to the construction, real estate and credit markets, he noted.
He said that if the program was suspended or even abandoned, there would be serious economic and even psychological effects. Hungarians, he added, considered owning their own property to be vitally important and even strongly determined their identity.
The economist said left-wing opposition promises to expand the municipal rental housing stock in the past went largely unfulfilled because it was expensive and unprofitable to build and maintain properties.
In addition, some surveys show that in some areas of Budapest, accumulated tenant debts accumulate total losses of up to 150 million forints each year.
He argued that the state was right to help budding young people by supporting jobs and creating credit systems.