This article was originally published in English
A large number of Europeans have no other way to cover their rising housing costs than to cut their food spending, according to a new study.
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The New Housing Trend Report 2024, compiled by real estate agency RE/MAX Europe, revealed that more than one in ten Europeans have had to reduce their consumption of food and basic products to pay for their accommodation over the past year.
The survey of thousands of participants found that the cost of housing has increased by an average of 54% in Europe over the last 12 months. More than a third of Europeans (37%) said that even if they were getting by and could afford their housing, money was still tight. Nearly a fifth (19%) said they were struggling to make ends meet.
On average, European households spend 38% of their income to pay rent or mortgage and utility bills, with the highest percentages recorded in Slovenia (43%) and at Portugal (42 %). However, people living in Suissefor example, declare a lower charge (30 %).
To be able to cope with the increase in housing costs, 80% of those surveyed said they had started cutting back on their spending.
Among the people who responded to the survey, some 16 % reported having reduced their food expensesthe highest proportion (26 %) being observed in Austria and in Finland.
When cutting expenses isn’t enough…
Moreover, 15 % of Europeans reported being forced to resort to some form ofborrowing to cover their housing expenses. This trend is most marked in Türkiye (32%)in Bulgaria (22%) and in Romania (20%).
About a third of people using loans chose to finance their housing expenses using credit cards, and slightly fewer, 27 percent, turned to family and friends for necessary funds. A quarter of those surveyed used overdrafts, and slightly fewer (23%) chose to apply for unsecured bank loans to cover housing costs.
Faced with an uncertain future, almost half (48%) of respondents in Europe said they expected further increases in housing costs over the next 12 months.
In response to these gloomy prospects, a significant proportion of Europeans are considering radical changes: a more affordable life would be enough for 32% of those surveyed to move to a smaller city, and 24% are ready to settle abroad for the same reason. However, 21% of them are not at all willing to move.
Sustainable development is not a priority for households
Among those surveyed in Europe, 18 % declared having struggling to pay their energy billsand this proportion was particularly high in GreeceOr 36 % residents experience serious difficulties in managing their energy costs.
Due to already high costs, green home improvements have taken a back seat in many households, with the priority remaining on paying immediate bills, rather than long-term sustainability.
More than a quarter of those surveyed (27%) are still considering installing solar panels, and slightly fewer (25%) are considering installing double glazing. Rainwater harvesting measures and heat pumps are lower priority, with only a fifth of respondents saying they would consider installing them.
Nearly half of those surveyed said an increase in government support or subsidies could encourage them to install energy efficiency measures.
Where in Europe are people satisfied with the cost of their housing?
Despite concerns over the cost of housing, housing satisfaction rate remains high in many regions of Europe.
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THE Dutch and the Romanians are the most satisfied with their housing situation, 84% of those surveyed said they were satisfied. The relatively high rate of home ownership and the good quality of housing available in these countries may explain this result.
On average, 76% of Europeans are satisfied with their housing. At the other end of the scale are Malta, the Czech Republic, Slovenia, Hungary, Turkey, Greece and Ireland.
Dissatisfaction comes from different factors. For example, the need for more space is a major concern, particularly in Poland, where 58% of residents cite this factor as the cause of their dissatisfaction, while the European average is 37%.
Cost is another major issue: a third (33%) of dissatisfied people say their accommodation is too expensive. This rate reaches 53% in Malta, 48% in Ireland and 48% in Finland.
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In addition, almost half of dissatisfied residents in Portugal reported problems with damp or mold, while a fifth of them cited hygiene issues and pests as the main problem in the Netherlands. Down.
