An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary

Gabor Nagy

doi:doi:10.11648/j.ijsts.20221002.15

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An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary

Gabor Nagy

Published in International Journal of Science, Technology and Society (Volume 10, Issue 2)

Received: 28 March 2022 Accepted: 14 April 2022 Published: 28 April 2022

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Abstract

The main purpose of the paper was to analyse the effect of a specific governmental programme using the different statistical levels and hierarchical classes, to identify the main focus, of spending public sources (Home Protection Action Plan). The paper suggest, that the settlement hierarchical focus of National Asset Managing Shared Company (NET) turned to small and medium sized towns. The spatial focus of NET followed the economic and social crisis regions (on NUTS2 and 3 levels) quite well, these units concentrated a high number of bought flats/houses and high level of NET’s investments. The activity of NET in the late crisis period (2013-2015) played crucial role in stabilising the activity of housing markets in villages and small towns in the Eastern regions. The NET bought appr. 36.000 appartments, family houses and all these stock went under direct state ownership. The former owners used their flats s renters, with a highly reduced fee. This legal form offered an opportunity to began redirecting the very weak social rental housing sector in Hungary, which became marginal after the mass privatisation of flats in the 1990s. As we try to point out, this unique opportunity was missed by the national government, when after a few years of global fiscal crisis the dominant share of these flats were offered to rebuy by the former owners. This decision strengthen the ownership based housing regime in Hungary and make the housing affordability much difficult for the younger generation a poorer families.

Published in	International Journal of Science, Technology and Society (Volume 10, Issue 2)
DOI	10.11648/j.ijsts.20221002.15
Page(s)	66-71
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Housing Markets, Spatial Inequalities, Global Crisis, Cycles in Real Estate Markets, National Asset Company

References

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[3]	Brenner, N. 2009. What is critical urban theory? City 13 (2-3): 198-207.
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[6]	Harvey, D. 2001. ’Spaces of Capital. Towards a critical geography.’ Routledge, London and New York.
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[8]	Lang, Th. 2015. Socio-economic and political responses to regional polarisation and socio-spatial peripheralisation in Central and Eastern Europe: a research agenda. HunGeoBull 64 (3): 171-185.
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Gabor Nagy. (2022). An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. International Journal of Science, Technology and Society, 10(2), 66-71. https://doi.org/10.11648/j.ijsts.20221002.15

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ACS Style

Gabor Nagy. An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. Int. J. Sci. Technol. Soc. 2022, 10(2), 66-71. doi: 10.11648/j.ijsts.20221002.15

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AMA Style

Gabor Nagy. An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. Int J Sci Technol Soc. 2022;10(2):66-71. doi: 10.11648/j.ijsts.20221002.15

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@article{10.11648/j.ijsts.20221002.15,
  author = {Gabor Nagy},
  title = {An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary},
  journal = {International Journal of Science, Technology and Society},
  volume = {10},
  number = {2},
  pages = {66-71},
  doi = {10.11648/j.ijsts.20221002.15},
  url = {https://doi.org/10.11648/j.ijsts.20221002.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsts.20221002.15},
  abstract = {The main purpose of the paper was to analyse the effect of a specific governmental programme using the different statistical levels and hierarchical classes, to identify the main focus, of spending public sources (Home Protection Action Plan). The paper suggest, that the settlement hierarchical focus of National Asset Managing Shared Company (NET) turned to small and medium sized towns. The spatial focus of NET followed the economic and social crisis regions (on NUTS2 and 3 levels) quite well, these units concentrated a high number of bought flats/houses and high level of NET’s investments. The activity of NET in the late crisis period (2013-2015) played crucial role in stabilising the activity of housing markets in villages and small towns in the Eastern regions. The NET bought appr. 36.000 appartments, family houses and all these stock went under direct state ownership. The former owners used their flats s renters, with a highly reduced fee. This legal form offered an opportunity to began redirecting the very weak social rental housing sector in Hungary, which became marginal after the mass privatisation of flats in the 1990s. As we try to point out, this unique opportunity was missed by the national government, when after a few years of global fiscal crisis the dominant share of these flats were offered to rebuy by the former owners. This decision strengthen the ownership based housing regime in Hungary and make the housing affordability much difficult for the younger generation a poorer families.},
 year = {2022}
}

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TY  - JOUR
T1  - An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary
AU  - Gabor Nagy
Y1  - 2022/04/28
PY  - 2022
N1  - https://doi.org/10.11648/j.ijsts.20221002.15
DO  - 10.11648/j.ijsts.20221002.15
T2  - International Journal of Science, Technology and Society
JF  - International Journal of Science, Technology and Society
JO  - International Journal of Science, Technology and Society
SP  - 66
EP  - 71
PB  - Science Publishing Group
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UR  - https://doi.org/10.11648/j.ijsts.20221002.15
AB  - The main purpose of the paper was to analyse the effect of a specific governmental programme using the different statistical levels and hierarchical classes, to identify the main focus, of spending public sources (Home Protection Action Plan). The paper suggest, that the settlement hierarchical focus of National Asset Managing Shared Company (NET) turned to small and medium sized towns. The spatial focus of NET followed the economic and social crisis regions (on NUTS2 and 3 levels) quite well, these units concentrated a high number of bought flats/houses and high level of NET’s investments. The activity of NET in the late crisis period (2013-2015) played crucial role in stabilising the activity of housing markets in villages and small towns in the Eastern regions. The NET bought appr. 36.000 appartments, family houses and all these stock went under direct state ownership. The former owners used their flats s renters, with a highly reduced fee. This legal form offered an opportunity to began redirecting the very weak social rental housing sector in Hungary, which became marginal after the mass privatisation of flats in the 1990s. As we try to point out, this unique opportunity was missed by the national government, when after a few years of global fiscal crisis the dominant share of these flats were offered to rebuy by the former owners. This decision strengthen the ownership based housing regime in Hungary and make the housing affordability much difficult for the younger generation a poorer families.
VL  - 10
IS  - 2
ER  -

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Author Information

Gabor Nagy

Békéscsaba Department, Research Centre for Economic and Regional Science Regional Studies Institute, Békéscsaba, Hungary

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APA Style

Gabor Nagy. (2022). An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. International Journal of Science, Technology and Society, 10(2), 66-71. https://doi.org/10.11648/j.ijsts.20221002.15

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ACS Style

Gabor Nagy. An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. Int. J. Sci. Technol. Soc. 2022, 10(2), 66-71. doi: 10.11648/j.ijsts.20221002.15

Copy | Download

AMA Style

Gabor Nagy. An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary. Int J Sci Technol Soc. 2022;10(2):66-71. doi: 10.11648/j.ijsts.20221002.15

Copy | Download

@article{10.11648/j.ijsts.20221002.15,
  author = {Gabor Nagy},
  title = {An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary},
  journal = {International Journal of Science, Technology and Society},
  volume = {10},
  number = {2},
  pages = {66-71},
  doi = {10.11648/j.ijsts.20221002.15},
  url = {https://doi.org/10.11648/j.ijsts.20221002.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsts.20221002.15},
  abstract = {The main purpose of the paper was to analyse the effect of a specific governmental programme using the different statistical levels and hierarchical classes, to identify the main focus, of spending public sources (Home Protection Action Plan). The paper suggest, that the settlement hierarchical focus of National Asset Managing Shared Company (NET) turned to small and medium sized towns. The spatial focus of NET followed the economic and social crisis regions (on NUTS2 and 3 levels) quite well, these units concentrated a high number of bought flats/houses and high level of NET’s investments. The activity of NET in the late crisis period (2013-2015) played crucial role in stabilising the activity of housing markets in villages and small towns in the Eastern regions. The NET bought appr. 36.000 appartments, family houses and all these stock went under direct state ownership. The former owners used their flats s renters, with a highly reduced fee. This legal form offered an opportunity to began redirecting the very weak social rental housing sector in Hungary, which became marginal after the mass privatisation of flats in the 1990s. As we try to point out, this unique opportunity was missed by the national government, when after a few years of global fiscal crisis the dominant share of these flats were offered to rebuy by the former owners. This decision strengthen the ownership based housing regime in Hungary and make the housing affordability much difficult for the younger generation a poorer families.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - An Unused Opportunity: The Activity of National Asset Managing Shared Company in Hungary
AU  - Gabor Nagy
Y1  - 2022/04/28
PY  - 2022
N1  - https://doi.org/10.11648/j.ijsts.20221002.15
DO  - 10.11648/j.ijsts.20221002.15
T2  - International Journal of Science, Technology and Society
JF  - International Journal of Science, Technology and Society
JO  - International Journal of Science, Technology and Society
SP  - 66
EP  - 71
PB  - Science Publishing Group
SN  - 2330-7420
UR  - https://doi.org/10.11648/j.ijsts.20221002.15
AB  - The main purpose of the paper was to analyse the effect of a specific governmental programme using the different statistical levels and hierarchical classes, to identify the main focus, of spending public sources (Home Protection Action Plan). The paper suggest, that the settlement hierarchical focus of National Asset Managing Shared Company (NET) turned to small and medium sized towns. The spatial focus of NET followed the economic and social crisis regions (on NUTS2 and 3 levels) quite well, these units concentrated a high number of bought flats/houses and high level of NET’s investments. The activity of NET in the late crisis period (2013-2015) played crucial role in stabilising the activity of housing markets in villages and small towns in the Eastern regions. The NET bought appr. 36.000 appartments, family houses and all these stock went under direct state ownership. The former owners used their flats s renters, with a highly reduced fee. This legal form offered an opportunity to began redirecting the very weak social rental housing sector in Hungary, which became marginal after the mass privatisation of flats in the 1990s. As we try to point out, this unique opportunity was missed by the national government, when after a few years of global fiscal crisis the dominant share of these flats were offered to rebuy by the former owners. This decision strengthen the ownership based housing regime in Hungary and make the housing affordability much difficult for the younger generation a poorer families.
VL  - 10
IS  - 2
ER  -

Copy | Download