Half Of EU Countries Have More Homeowners Than Spain

Spain is set to break another record for the recent decade. With each passing year, Spain falls in the ranks of how many of its homes are owned within the EU. In other words, Spain is moving up the ranks, which rank is that you might ask?

Well, they're moving up when it comes to having amongst the highest percent of homes being rented.

Only 77.8% of the homes in Spain are currently owned when compared to Romania which has around 96% ownership and Norway's population owns roughly 82.7%. This leaves Spain ranking 15th.

When 2016 had ended, the previously stated 77.8% stayed the same In 2015, it was found that nearly 6/10 were below the percent recorded in that year, however it was then established as being 78.2%.

During 2008, it was thought of as the property bubble being popped and the ownership had drastically fallen to 2.4% according to data received from Eurostat.

On the bright side, Spain is full of rentals. The rented rate for homes in Spain is around 22.2%. Itt had been around 21.8% during 2015 and then 21.2% during the course of 2014.

The fact is, since around 2005, the percentage of owned properties had been significantly falling within prominent European countries. Around that particular year, the majority of data on this topic was made available by the statistics of Eurostat.

Even in Germany, it was recorded to be 53.3% during 2005. At the end of 2016, the percentage had decreased to 51.7%.

In the United Kingdom, there was a decrease from 70% to 63.4% at the end of 2016, some may be worried at these numbers, but it just goes to show, renting can be an alternative to buying.

This pattern is being replicated in many destinations as foreign buyers price out locals who are forced to look outside the popular areas to be able to afford a place to live.

Of course, the salaries and wages of soe of these countries is a huge deciding factor but the market keeps evolving and it will find a way to resolve itself.

Views on homeownership differs greatly from place to place which is why the property market is more stable in some places than others.