Examination of Applicants for Home Purchase Subsidy for Families in Terms of Prior Commitment to Having Children and Extent of Property Acquisition, Based on the Data of a Credit Institution

Plöchl, Kata and Obádovics, Csilla (2021) Examination of Applicants for Home Purchase Subsidy for Families in Terms of Prior Commitment to Having Children and Extent of Property Acquisition, Based on the Data of a Credit Institution. FINANCIAL AND ECONOMIC REVIEW, 20 (3). pp. 80-109. ISSN 2415-9271

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Abstract

By examining a credit institution’s database for the period 2016–2020, the authors aimed to discover the extent to which Home Purchase Subsidy (HPS) for families applicants use the subsidy received in return for committing to having children in Hungary. The current study also examines which social groups the HPS provides essential assistance to with home purchasing, and at which income level and property value the subsidy motivates the purchase of a second home. Using cluster analysis, the authors found that groups with modest incomes and housing are the most likely to commit to having children in advance. Though the subsidy assists this group the most with housing, the amount received from the subsidy is small. Moreover, the current study revealed that 8 per cent of applicants used the subsidy to purchase a second property.

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