K&H: young people focus on traveling and buying a home

By: Trademagazin Date: 2024. 08. 15. 11:45

Young people with savings mostly want to use their savings to travel, but buying a home is also high on their list of priorities. According to the latest K&H youth index, 50 percent of women and only 32 percent of men put money aside for an apartment. A third of young people are saving for a car, but the retirement years are not in the “picture” for now.

Young Hungarians with savings continue to use their savings mainly for travel, according to K&H’s latest survey of 19-29-year-olds. In the second quarter of this year, almost 43 percent of those surveyed said that they mainly save for this. The proportion of people saving up to buy a home, which was mentioned by a little more than 39 percent of the respondents on average, was still pushed to the second place in the order of goals.

“In the case of women, 50 percent and 32 percent in the case of men consider the purpose of housing more important”

– pointed out Zoltán Rammacher, marketing manager of the K&H residential customer segment. He added:

“Those who have the opportunity should start saving as soon as possible. In the case of a home purchase, the money saved and any parental support can cover the down payment required for a home loan. In the current environment, those planning to take out a home loan are in a more favorable position thanks to the lower home loan interest rates compared to last year and the increase in real wages.”