The survey polled over 15,000 respondents in 15 countries via online questionnaires in the period August 16-30, 2019.
On average, 70% of Europeans consider owning a property financially preferable to renting and this is a common opinion cast across all age groups.
Romania, a country with a comparatively high home ownership rate (96%), has the smallest group (56%) who say they place at least one other financial goal above saving for a home. Germany, a country with a relatively high percentage of renters, has the largest group (91%) who prioritize at least one other spending alternative.
Traveling is the most favored alternative to saving for a new home across all respondents. This may make sense for older people and those who already own a home. While younger potential buyers appear to have multiple financial priorities: both a home and travel are important to them right now.
The survey showed 28% of Romanians expect to buy a home at 30-34 years of age, 25% after 35 and 14% before turning 30. In Europe, just 7% of respondents expect they would buy a home before 30, 16% after 35, and 38% are pessimistic about ever buying a home.
High property prices (77%) and fear of debt (70%) are the main reasons for which Europeans postpone plans to buy a home. Just 16% said they did not wish to buy a home.
At the same time 53% of Romanians (compared with 35% in 2017) think the real estate market in their country is heading in the wrong direction, bellow the 55% European average, with the highest rates recorded in Spain (72%), Germany (65%) and Luxembourg (65%).
In Europe, housing prices grew 4.2%, while salaries only grew 3.2%, so 55% of Europeans consider it a challenge to buy a home and 65% expect prices will rise over the next 12 months.