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 2 3 4 5 6
This article is related to the ING International Survey: