RE/MAX Europe
2023
PIABO PR
The European Housing Trend Report 2023, published by RE/MAX Europe, delivers an in-depth look into the housing market across 22 European nations, including Turkey and Israel. Based on a survey of over 22,000 participants aged 18 to 65, this report captures a wide range of demographic insights, showcasing the evolving aspirations and challenges faced by Europeans in the housing sector. One of the standout findings is the high mobility intentions among Europeans, with nearly 40% expressing plans to relocate within two years. This desire is primarily driven by personal aspirations for better living conditions rather than financial stress, despite the backdrop of rising inflation and housing costs. Additionally, the aspiration for homeownership remains strong, with 67.3% of Europeans already owning property, although affordability remains a significant barrier, particularly for younger individuals. The report also highlights the emergence of collaborative living as a potential solution to housing affordability. Co-living and co-ownership models are gaining traction, appealing to over half of respondents for their community-oriented benefits and cost-sharing advantages. Furthermore, there is a notable shift towards sustainable living, with many participants embracing eco-friendly upgrades and the idea of "15-minute cities," which aim to reduce commuting times by placing essential services closer to home. Overall, the European Housing Trend Report 2023 presents a dynamic picture of the housing landscape in Europe, revealing diverse motivations for moving and the varying preferences across different regions, thereby offering valuable insights for stakeholders in the real estate market.
The European Housing Trend Report 2023, published by RE/MAX Europe, provides an extensive analysis of the evolving housing market across 22 European countries, including Turkey and Israel. This report is based on a comprehensive survey conducted with over 22,000 participants between the ages of 18 and 65, reflecting a broad spectrum of demographic insights.
Key Findings
- High Mobility Intentions: Nearly 40% of Europeans surveyed anticipate moving within the next two years. This trend is driven more by personal aspirations for better living spaces and locations rather than financial pressures, despite rising inflation and housing costs.
- Homeownership Aspirations: A significant portion of Europeans (67.3%) already own property, with many more aspiring to purchase homes. The desire for homeownership transcends age groups, although affordability remains a barrier, especially for younger generations.
- Affordability Challenges: Rising property prices and inflation are major concerns, with nearly a third of respondents worried about finding affordable housing if forced to move soon. Despite these concerns, many are reluctant to compromise on location.
- Emergence of Collaborative Living: Co-living and co-ownership are gaining traction as viable solutions to housing affordability issues. Over half of those surveyed find co-living appealing, particularly for its community benefits and cost-sharing advantages.
- Sustainable Living Trends: There is a growing emphasis on sustainable living practices, with many embracing eco-friendly upgrades like LED lighting and solar panels. The concept of "15-minute cities," which aims to reduce commuting by bringing essential services closer to home, is also gaining interest.
- Diverse Motivations for Moving: Personal reasons dominate the motivations for moving, including the desire for larger properties or more convenient locations. Financial reasons are less prevalent but still significant in certain regions.
- Country-Specific Insights: The report provides detailed insights into housing trends across different countries, revealing variations in homeownership rates, preferences for urban vs. rural living, and openness to new housing models like co-living and co-ownership.
Context and Authors
The report was authored by PIABO PR on behalf of RE/MAX Europe, a leading real estate franchise network with over 30,000 professionals across 2,400 offices in 40 countries. The survey underpinning this report was conducted in July 2023 using online interviews (CAWI) across multiple European countries.
This comprehensive analysis highlights the dynamic nature of Europe's housing market amidst economic challenges and shifting lifestyle preferences, offering valuable insights for stakeholders in the real estate sector.