Slideshows | November 7, 2017

Buying into the dream – a view from homes across Europe

Renters are unhappy compared with home owners, and many feel they'll never afford to buy.

Nearly half of the people in Europe who have not yet bought their own home say they will probably never be able to afford to – even though they’d prefer this option.

The ING International Survey Homes and Mortgages 2017 – Renting versus Owning has found that 48% of non-home owners across 13 European countries believe they will never have enough money to get on even the first rung of the property ladder.

Figures were broadly similar in the USA and Australia.

Another key finding is that home owners are more likely to be happy with their housing situation (78%) than people who don’t own the property they live in, such as renters (59%).

Most prefer to own
Three in five (60%) of those who rent in Europe tell us they would like to own their home. This rises to around 70% among the 18-34s.

Just one in nine (11%) people in Europe who own would like to rent. This may be due to negative equity, financial overcommitment, or a desire for greater flexibility – for example, to move towards new work opportunities.

Even in Germany, traditionally thought a nation of renters, nearly three in five (58%) agree that everyone would buy a home if they could afford to. The slideshow has more country comparisons – or download the full report

 

1

Happy and they know it
More people in Luxembourg (83%) say they’re happy with their current housing situation. Only 3% of Luxembourgers say they are unhappy.

2

Dreaming of home
62% of Australians say they’ll probably never be able to afford to buy their own home – ahead of the UK (56%) and Germany (56%).

3

“Ownership is key”
In Poland, 80% agree that “everyone would buy if they could afford to”. People are least likely to agree in the Netherlands (47%).

4

Less buy-in from Spain
Only 47% of people in Spain say that buying is a smart financial decision – versus 83% of Luxembourgers. Another 24% in Spain say renting can also be smart.

5

All about status?
Less than half (45%) of Dutch residents think buying is a symbol of success, contrasting with 72% of Polish respondents.

6

Freedom to roam
Nearly half (49%) of Germans agree renting provides more flexibility than buying; 47% of people in Spain agree.

This article is related to the ING International Survey:

Homes and Mortgages 2017 – Renting Versus Owning

Homes and Mortgages 2017 – Renting Versus Owning

November 6, 2017

This second ING International Survey Homes and Mortgages 2017 reveals the views of renters and owners across 13 countries in Europe, the USA and Australia. A main finding is that 48% of renters and other non-home owners...

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