European Housing Trend Report 2023

The European Housing Trend Report 2023, published by RE/MAX Europe, offers an in-depth analysis of the housing market across 22 European countries, including Turkey and Israel. The report is based on a comprehensive survey of over 22,000 participants aged 18 to 65, capturing diverse demographic insights. Authored by PIABO PR, the report reflects the perspectives of a leading real estate franchise network with more than 30,000 professionals operating in 40 countries.

The survey indicates a strong intent among Europeans to relocate, with nearly 40% of respondents planning to move within the next two years. This inclination is primarily driven by personal aspirations for improved living conditions rather than financial strains, even in the face of rising inflation and increasing housing costs.

A significant 67.3% of Europeans currently own property, and many more express a desire to purchase homes. The aspiration for homeownership spans across different age groups, although affordability remains a significant obstacle, particularly for younger individuals who are often priced out of the market.

Affordability is a pressing concern, with nearly one-third of participants expressing worries about finding accessible housing options if they need to move soon. Despite these concerns, many individuals prefer not to compromise on their preferred locations, underscoring the tension between desire and financial reality.

The report highlights a growing interest in collaborative living arrangements, such as co-living and co-ownership, as practical responses to affordability challenges. Over half of the respondents find co-living appealing, valuing the community aspects and cost-sharing benefits it offers.

Sustainability is increasingly important to respondents, with many adopting eco-friendly home improvements like LED lighting and solar panels. The concept of "15-minute cities," which aims to minimize commuting by situating essential services within close reach, is also gaining traction among the population.

Motivations for relocating are predominantly personal, including the desire for larger living spaces or more convenient locations. While financial reasons are still relevant, they play a less significant role in certain regions, indicating that lifestyle preferences are driving the housing market more than economic factors.

The report provides detailed insights into housing trends in various countries, revealing differences in homeownership rates, urban versus rural living preferences, and the receptiveness to new housing models like co-living and co-ownership. This diversity reflects the varying attitudes towards housing across Europe.

In conclusion, the European Housing Trend Report 2023 sheds light on the dynamic nature of the housing market in Europe amid economic challenges and evolving lifestyle preferences. It offers valuable insights for stakeholders in the real estate sector, particularly those focused on sustainable housing solutions.