October 23, 2014
Homeownership rates vary drastically around the world. For example, Germany has what some may consider a low rate at 53%, while in Spain around 80% of people live in owner-occupied housing. Why the difference? Why are some people buying and some people renting?
The infographic below, developed by Jackson Rowe, a real estate group based in Australia, compares homeownership rates around the world, looks at pros and cons of renting, and asks “who is buying?” Using Germany as a case study and questioning if homeownership is a measure of economic strength, Jackson and Rowe explored whether the German government’s policies discourage homeownership or encourage renting. The infographic also provides introductory facts and statistics that provide further insight into homeownership around the world based on 2013 research by Citylab, which found that less-developed countries have consistently higher levels of homeownership, while more advanced nations combine higher levels of economic development with substantially lower levels of homeownership.
Infographic courtesy of Jackson Rowe (http://www.jacksonrowe.com.au/)