Slight rise in house price optimism in Europe
Highlights about house prices across Europe are in this slideshow. Expectations for rises in the property market in Turkey are particularly widely held. Italy is at the other end of the scale, while attitudes have turned around most sharply in Spain.
The share of European consumers who think prices will rise in the next 12 months increased from 53% in 2014 to 56% in 2015.
Read the full ING International Survey on Homes and Mortgages 2015 report here.
Going up in Turkey
Turkey has the highest house price optimism in 2015 of 15 countries surveyed, with 82% saying they expect house prices to rise there in the next 12 months. But worries are mounting about ability to pay: 42% of owners in Turkey say it is difficult to pay, compared with 26% for the weighed European average.2
Attitudes change in Spain
Spain is top of the ING International Survey house price optimism index for 2015. The index is the year-on-year change in expectations house prices will rise in the next 12 months. While still only 49% in Spain expect a rise, it is a hike of 14 percentage points from very low levels in 2014.3
Italians are least upbeat about the prospect of property prices rising soon. Only 33% expect property prices to go up next year – the lowest proportion in the survey. However it is a small rise on the 2014 result.4
Is “climbing the property ladder” still possible?
Belgium, Austria and Germany are countries where larger numbers of people indicate buying a home is an attractive way to build up wealth. Australia tops the survey results for this.5
Better to buy or rent?
Of homeowners in Luxembourg and the Czech Republic, 93% agree that “from a financial point of view, it is better to own a property than to rent” – the highest result in the survey. Renters are less likely than owners to agree in all countries surveyed.
This article is related to the ING International Survey:
Homes and Mortgages 2015
September 7, 2015
This ING International Survey on Homes and Mortgages asked almost 15,000 people in 15 countries about their views on housing. It shows that overall in Europe house price optimism on the rise – but high costs are...