According to the New Housing Trend Report 2024 from Re/Max Europe, for many Europeans, the cost of housing has become a heavy financial burden. The report states that over the past year, housing prices in Europe have increased by an average of 54%, which forced every tenth European to reduce food costs and other basic needs to be able to pay for housing.
In total, 80% of respondents indicated that they started saving to cover housing costs. About 41% of Europeans abandoned social measures, and 40% reduced entertainment costs and luxury. Food savings have become a common occurrence, including 26% of residents of Austria and Finland were forced to take this step.
On average, Europeans spend 38% of their rental or mortgage income with utility bills. The largest burden is the population of Slovenia (43%) and Portugal (42%), while in Switzerland this figure is lower and is 30%.
The need for additional costs to cover housing costs is especially felt in Turkey, Bulgaria and Romania. About a third of the respondents who appealed to the loans fund housing through credit cards, and 27% take loans from relatives or friends. Others use overdraft or apply for bank loans.
Almost half of the respondents predict a further increase in housing prices in the next 12 months. Against the background of this uncertainty, 32% of those polled are ready to move to a more affordable region or even another country.
Despite the high costs, the level of housing in Europe remains relatively high: on average, 76% of those polled are satisfied with their home. The most satisfied residents of the Netherlands and Romania, where 84% of those polled consider their home comfortable.
Problems with the cost, space and quality of housing are dissatisfied with residents of Poland, Malta and other countries where there are complaints of cost, lack of space, humidity and even pests.
Due to the high cost of housing, environmental improvements in households have come to the sidelines for many families. 27% of respondents see the possibility of installing solar panels and 25% of double glazing. Almost half of the respondents noted that an increase in state subsidies could stimulate them to implement energy efficient measures.
