Slowdown in Europe’s housing market starts to ease off

Europeans are increasingly looking to new home ownership solutions and considering communal living as concerns about the scarcity of affordable housing grow, a major report by RE/MAX Europe reveals.

Despite Europewide economic challenges the desire for relocation remains strong with people exploring homeownership options such as communal living as well as a growing preference for 15 minute cities as a means to get about.

HOUSING SHORTAGES

Two out of five Europeans (39.3%) expect to move within the next two years and are increasingly looking at new ways to tackle affordable housing supply shortages, increasing prices and stricter environmental regulations.

Nearly one in five Europeans (18.5%) choose to relocate due to financial constraints but three in 10 (30%) of those are concerned about costs.

In the UK the RE/MAX Europe study reveals just under half (44%) of people in England are looking to move – relatively high compared with their European neighbours.

Among these potential movers, two-thirds say their move is driven by personal reasons, while nearly 18% say that financial reasons play a role in their decision, echoing trends seen in other countries.

Work-related reasons, particularly the prospect of starting a new job, factor in for almost 17%, which surpasses rates seen in many other European countries.

LONG-TERM LEASE

Of those considering a move, the majority (55.3%) are looking to buy a property, while more than a quarter (25.4%) are contemplating a long-term lease.

Nearly 30% of those surveyed in England expressed concerns about finding properties within their budget and almost one-quarter (23.6%) were open to co-living arrangements that grant access to more facilities at a lower cost.

Michael Polzler (main picture), Chief Executive of RE/MAX Europe, says: “Europe’s evolving real estate landscape showcases the resilience and adaptability of its people and property market.

“Amidst the complexities of affordability, Europeans are moving towards fresh models of property ownership and communal living.

“This isn’t just about adapting to challenges; it’s about reshaping how and where we live.

“The message is clear: despite challenges in the property market, Europeans remain committed to finding the right home that fits their needs and aspirations.”

Read the report HERE.