Nearly half of Europeans who do not already own their home believe they either will never be able to buy one or are simply not interested in doing so – a striking signal of shifting housing expectations across the continent.
According to the RE/MAX European Housing Trend Report 2025*, based on a survey conducted in August 2025 across 23 countries, 29% of respondents said they do not think they will ever be able to purchase a property. A further 15% stated they are not interested in buying at all. Combined, that leaves 44% of non-homeowners effectively outside the ownership market.
“Across advanced economies, homeownership remains a powerful aspiration, but rising costs, tighter credit conditions and demographic change are reshaping expectations”
The pessimism varies sharply by country. In Czechia, 44% believe they will never buy a home — the highest share recorded. The figure is also elevated in Slovenia (39%), Italy (35%), Malta (34%), Ireland (33%), Poland (33%) and Hungary (33%). Among Europe’s largest economies, Italy stands out at 35%, while Germany records 28%, France 25%, Spain 25% and the UK 26%.
These perceptions reflect broader affordability pressures. According to Eurostat, EU house prices have risen by more than 45% on average since 2015, significantly outpacing income growth in many member states. The European Central Bank has highlighted how higher interest rates since 2022 have tightened mortgage conditions, reducing borrowing capacity for first-time buyers. Slow real wage growth and limited housing supply in key urban markets have further strained access to ownership.
“(By contrast) China has historically recorded homeownership rates above 90%, reflecting large-scale privatisation and strong cultural preferences for property ownership”
Germany presents a distinct case. While 28% say they will never buy, a further 31% report they are not interested in ownership, bringing the combined figure to 59%, the highest in the survey. Austria (54%), Czechia (54%), the Netherlands (53%) and Switzerland (52%) also exceed the 50% mark. In these countries, strong tenant protections and stable rental markets reduce the social pressure to buy. OECD housing data confirm that Germany maintains one of Europe’s largest rental sectors, with more than half of households renting.
By contrast, Turkey stands out at the lower end, with only 18% saying they are unable or unwilling to buy. Despite economic volatility, property continues to be viewed as a store of value – a dynamic frequently observed in emerging markets facing inflationary pressures.
Europe’s housing dilemma, however, is part of a broader global recalibration. In the United States, homeownership remains culturally entrenched, with the rate hovering around 65% according to the U.S. Census Bureau. Yet affordability has deteriorated markedly since 2022 as higher mortgage rates and elevated property prices have squeezed first-time buyers. The United Kingdom faces parallel pressures: ownership rates among younger households have declined over the past decade, with deposit requirements and constrained supply limiting access.
In Asia-Pacific markets, the contrasts are instructive. China has historically recorded homeownership rates above 90%, reflecting large-scale privatisation and strong cultural preferences for property ownership. Recent instability in its property sector, however, has tempered confidence. Japan offers a different model: with ownership rates around 60% and more moderate long-term price growth outside major metropolitan areas, affordability pressures are less acute than in many Western economies. Australia, meanwhile, mirrors Europe and North America, with declining ownership among younger cohorts and cities such as Sydney ranking among the least affordable globally relative to income.
Taken together, the evidence suggests that Europe is neither isolated nor exceptional. Across advanced economies, homeownership remains a powerful aspiration, but rising costs, tighter credit conditions and demographic change are reshaping expectations. What differs is the degree of pessimism and the policy responses. In that sense, Europe’s housing divide reflects a wider global shift: the property ladder remains intact, but for many, it has become steeper to climb.
