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However, it is not the country with the most homeowners in Europe. Leading this ranking are Kosovo (97.8%), Albania (96.3%) and Romania (95.3%), where the number of owners exceeds the 95% barrier. In Portugal, 78.3% of people own a home.
According to the Landgeist.com, which relies on Eurostat data, the rate of homeowners varies greatly from country to country, with the option to buy a home more common in Eastern Europe than in Western Europe.
In Spain, Italy and France there are fewer homeowners than in Portugal, the percentage being 75.8%, 73.7% and 64.7%, respectively.
In the opposite direction are Austria, Germany and Switzerland, which are the European countries where there are more tenants than homeowners. In the specific case of Germany and Switzerland there are more people renting houses than buying.
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Hopefully this article will put an end to the British misconception that in European countries, 'people tend to rent, not buy'. There may be less of an obsession with property in Europe, but that doesn't necessarily translate into lower rates of home ownership. What is true is the German-speaking countries have lower rates of home ownership and a strong tenant culture.
More recent figures show home ownership in the UK has dropped to just 61%, so it is now lagging even further behind a good number of European countries.
By Billy Bissett from Porto on 24 Apr 2023, 11:51