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Young Hungarians put savings aside for homes

Analysis

Young Hungarians consider saving money important, and more than half of them save money every month. The main goal is to buy a home, according to a recent survey conducted at the end of last year by Intrum Justitia.

The European survey by Instrum Justitia shows that 51% of Hungarians aged 18-34 set aside money each month and 38% specifically aim to buy a home, according to figures published by economic news portal vg.hu. Other young Europeans prefer to spend their savings on travel and other consumer needs, the survey found.

While many young European adults choose to invest their money in shares, only 6% of Hungarians choose this option. Most keep their money in bank accounts or even cash.

The survey was conducted in 21 European countries, with the participation of 1,005 Hungarian respondents. The findings are in line with a similar survey conducted in September.

For more detail, see our analysis piece "Owning a property tops the savings priority list of young Hungarians".

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