ECONOMY FINANCE&BANKING

Romania has largest share of homeowners in the EU


+ Most Germans and Austrians are tenants + Almost all Romanians are homeowners + On average, 7 in every 10 persons are homeowners in the EU

Romania is first in the European Union when it comes to the percentage of people that own homes (96.1 per cent in 2014), far above the EU average (70.1 per cent), the data published by Eurostat on Monday show.

Only Slovakia, where 90.3 per cent of the people are homeowners, is anywhere close to Romania’s share, Central and Eastern Europe (CEE) trailing far behind our country. In Poland, only 83.5 per cent of the people own their own homes, while in Hungary the share stands at 89.1 per cent.

In the EU’s developed states, the share is even lower than in Central and Eastern Europe. Thus, in Germany only 52.5 per cent of people own homes, in Denmark only 63.3 per cent and in the United Kingdom 64.8 per cent.

Only 3.9 per cent of Romania’s population consisted of tenants in 2014, far below the EU average (29.9 per cent). In contrast, 47.5 per cent of the Germans and 42.8 per cent of the Austrians were tenants in 2014.

Also interesting is the fact that in the Netherlands 3.8 per cent of the population lives in homes other than houses and apartments, namely in real properties with non-residential use (schools, boats).

In what concerns the costs, 11.4 per cent of the EU population faced high housing costs in 2014, meaning they spent more than 40 per cent of their available income on housing. The biggest problem was registered in Greece, where 40.7 per cent of the population allocated more than 40 per cent of household income to cover total housing costs. Greece was followed by Germany (15.9 per cent), Denmark (15.6 per cent), Netherlands (15.4 per cent) and Romania (14.9 per cent).

Related posts

OTP Bank Romania announces the financial results for 2018: a 25% profit advance than in the base period

NINE O'CLOCK

Central bank estimates 4 pct – 5 pct economic growth for 2017. Romanian producers gradually losing domestic market share, says Governor Isarescu

Nine O' Clock

ROCA X welcomes Senior Investment Partners Jennifer Austin and Matei Dumitrescu

NINE O'CLOCK