Survey: 27% of Israelis will help the first-born child buy an apartment, and 18% will help the second-born.
A survey of 200 homebuyers by Kav Manhe Bedek Bait Ltd. has found that while most Israeli parents financially help their children buy an apartment, the division among children is unequal. 27% of respondents said that they help the first-born child, 18% said that they help the second-born, and 12% said that they help the third-born and subsequent children.
Bedek Bait CEO Tzachi Bardugo said that the top 20% of Israelis provide $150,000-300,000 for each of their first three children. The next 20% provide $80,000-120,000 for each of their first three children, and families that earn up to NIS 15,000 per month provide $50,000-70,000 per child.
Bardugo added that most parents said that they are fair and do not discriminate between their children with financial aid for buying an apartments. However, the survey found that reality tends to be otherwise.
Published by Globes [online], Israel business news - www.globes-online.com - on September 28, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008