Why home ownership in Eastern and Central Europe is so high?
Eastern and Central European countries have some of the highest homeownership rates in the world which many readers may find surprising given that most people there don’t earn high salaries. The main reason for this phenomenon is that after the fall of the Soviet Union, many individuals had the chance to purchase the properties which they occupied from the State at relatively low prices.
The countries with the highest homeownership in Europe are
Romania - 95.3%
Slovakia - 92.3%
Hungary - 91.7%
Croatia - 90.5%
Montenegro - 90.2%
Lithuania - 89%
Poland - 86.8%
Serbia - 86%
North Macedonia - 85.8%
Bulgaria - 84.9%
Countries with the lowest house ownership in Europe:
Denmark - 59.2%
Turkey - 57.9%
Austria - 54.2%
Germany - 49.5%
Switzerland - 42.3%
Source: Statista (2022)
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