Housing market - Germany as a unique EU case: More tenants than owners
Germany remains the only EU country with more tenants than owners of apartments and houses. The proportion of owners fell from 49% to 47% last year, according to the statistics office Eurostat. In Austria, which has the second-lowest ownership rate, the proportion also fell - from 54 to 51 percent.
According to Eurostat, the EU-wide ownership rate fell by just under one percentage point. Overall, 69% are owners and 31% are tenants. The ownership rate is particularly high in eastern EU countries such as Romania (95%), Slovakia (93%), Croatia (91%) and Hungary (90%).
Apart from Austria, the lowest ownership rates outside Germany are in Denmark (60%) and France (63%). Outside the EU, Switzerland has an even lower ownership rate (42%) than Germany.
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- Despite having a lower ownership rate than Germany, Luxembourg still has a higher proportion of owners at 62%, making it an exception within the EU.
- The housing market in Europe as a whole shows a slight decrease in the ownership rate, with real estate ownership currently standing at 69%, and renting at 31%, as reported by Eurostat.
- Interestingly, many European countries, such as Italy (71%), Spain (71%), and the Netherlands (67%), have a higher proportion of homeowners compared to Germany, which has more tenants than owners.
- The trend of more tenants than owners in Germany was highlighted in a recent Eurostat report, echoing a similar situation in Austria, where the ownership rate also decreased from 54% to 51%.
Source: www.stern.de
