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LESS PEOPLE ARE RENTING HOMES IN EUROPE

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Over the last 20 years there have been significant changes in the choices people are making in whether they wish to rent or own their house, flat or apartment. In the early 1980's West European countries averaged between 50% and 60% of homes owner occupied as opposed to rented. However as years progress into the early 2000s there has been some very significant changes with most countries seeing a significant reduction in the number of properties rented. Some of the most significant changes in the percentage of properties rented in Western Europe are:

From 1980/81 to 2001/02

UK from 42% to 30%; Luxembourg from 39% to 26%; Netherlands from 58% to 46%; Spain from 21% to 11%.

One possibility for this trend is the increasing standards of living combined with market changes improving the choice and availability of financial products to purchase properties. However also to be considered is the very significant differences when comparisons are made across countries. Below is a summary of the most recent data found on the percentage of homes rented for each country.

Austria 40%; Belgium 31%; Denmark 51%; Finland 32%; France 40%; Germany (ex FRG) 55%; Germany (ex DDR) 66%; Greece 20%; Ireland 16%; Italy 25%; Luxembourg 26%; Netherlands 46%; Portugal 21%; Spain 11% Sweden 39%; United Kingdom 30%.

One possible conjecture is that countries with a higher percentage of properties in the rental sector may have higher workforce mobility. This would suggest that Germany may have significant higher workforce mobility than other West European countries. In contrast Spain may have relatively low workforce mobility.

Overall the data available on property to rent across Western Europe raises many more questions than it answers however one factor that is very evident is that there is a definite trend for a shift from rental to owner occupied homes. For landlords and real estate agents who have properties to rent this may also suggest that competition will increase to find tenants. For renting a home in the UK try the property rental website www.simple2rent.co.uk (launching April 2006), simple to rent properties with no commissions charged to landlords or tenants.

This article was published by simple2rent.co.uk, copyright © 2006 simple2rent Ltd

16 March 2006 www.simple2rent.co.uk


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Simple2rent.co.uk provides a service for the UK property rental market. Its prime objective is to make it easier to find somewhere to rent with no commissions charged to landlords or tenants.

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