Why Romania is a nation of homeowners, while Switzerland – a nation of tenants
- By Site Administrator
- July 31, 2019
97% of Romanians and 90% of Lithuanians live in their own apartments or houses, while more than half of the Swiss and Germans rent their residential properties. Here’s why.
For many Europeans buying a home is the ultimate goal, along with a graduation from the university and family creation. For them homeownership equals stability and investment, thus people seek to buy a housing unit as early as possible.
On average, Europeans prefer to own their home. 7 out of every 10 Europeans live in owner-occupied dwellings, according to the latest Eurostat data. However, these numbers highly vary from country to country.
Nine out of ten Geneva’s residents are tenants
The highest homeownership rate in Europe is in Romania where 96.8% of the population own their residential properties. Lithuania and Croatia come in second and third with around 90% homeownership rate, followed by Slovakia (89.5%) and Hungary (85.3%).
By contrast, half of Germans and more than half of the Swiss are tenants. In Germany, less than 52% of the population own their housing units. Whereas in Switzerland only 43% of properties are occupied by their owners, and it is the lowest homeownership rate in Europe.