Europe is abandoning ownership - Renting is becoming the choice of millions of residents
Home ownership is becoming increasingly difficult for a large proportion of Europeans, turning renting from a temporary solution into a long-term reality for many families. A new study, which analyses housing market data in 39 OECD countries, shows that Western and Northern European countries lead the way in the number of renters.
Switzerland has the highest percentage of renters in the world, with 61.2% of the population renting. It is followed by Germany, where 55.4% of the population does not own the home they live in. Meanwhile, Denmark ranks first in the global rental index, with a score of 67.2 points out of 100. In this country, 47.5% of the population lives in rent, while 52.2% own their home.
Financial pressure is also high in the Nordic countries. Finland and Sweden have about 38% of the population in rented housing, while families face high rental costs and problems with living space. In southern Europe, Portugal has a different reality. About 72.1% of homes are owned, but property prices have increased much faster than wages. Since 2015, prices have increased 48.8% more than local incomes.
In Central and Eastern Europe, the situation is the opposite. Romania and Slovakia have homeownership rates above 92%, 92.8% and 93.5%, respectively. However, high homeownership rates are often associated with overcrowding and multi-generational living under the same roof.
The study notes that higher homeownership does not necessarily translate into better living conditions. In some Eastern European countries, families own their homes but face a lack of space and other economic costs. Meanwhile, countries where renting is more prevalent sometimes offer larger living spaces and more flexibility for families.
The trend is not limited to Europe. In the US, Canada, Australia and New Zealand, renters make up around 30–40% of the population, while high house prices, mortgages and large down payments are pushing homeownership further and further away for younger generations.
In this context, renting is gradually transforming from a transitional phase into a long-term lifestyle, especially for young people and families who cannot afford to buy a home.
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