RE/MAX Europe 2023 Residential Market Research
European consumers, although faced with the limited availability of housing, the limited availability of
the rise in inflation and interest rates, but also the increase in property maintenance costs, due to the
stricter environmental regulations, continue to seek, with undiminished interest, properties that will
cover their basic needs, either to buy or rent, at an affordable price.
According to the results of a recent survey conducted by RE/MAX Europe in 22 EU countries.
with the participation of 22,000 consumers, interested buyers confirm that prices are at a
upward trajectory, while the desire to relocate to Europe remains stable. It is worth noting that the
RE/MAX Europe's franchise network is one of the largest in the real estate industry, with more than
30.000 professional real estate consultants in 2,400 offices in 40 countries across the continent.
At the same time, those who cannot find affordable properties are turning to innovative solutions, such as
for example cohousing and show an increasing preference for areas with human-centred urban
design.
The conclusions of the survey include the following:
* Four out of ten Europeans (39.3%) expect to move in the next two years.
* Two in ten Europeans (18.5%) end up moving because of financial difficulties.
* Three out of ten Europeans express concerns about future travel and fear that they will not be able to
will find housing they can afford based on their budget.
* 65% of Europeans surveyed say they would consider the possibility of
co-ownership of a property, with a group of people consisting of friends, colleagues or even
strangers.
* 24.8% of consumers are attracted to the idea of co-ownership because of the privileges that would
enjoy with cost sharing. One in five say that co-ownership leads to purchase
properties that would otherwise be unaffordable, while also providing a common shield
protection against the financial and legal risks associated with exclusive ownership.
* 24.5% of consumers in Europe are interested in buying a second home.
* More than half of Europeans (56.1%) can imagine sharing a home, which
would provide them with a private living space and shared access to other amenities. But only under
provided that comfort options are provided, as Europeans want access to a wide range of
cost-effective amenities, such as a shared workspace or recreation room.
* 21.2% of respondents see cohabitation as a way to reduce feelings of loneliness.
Although interest in cohabitation is currently higher among younger Europeans, who are
have always tended in this direction, older people have also begun to seriously consider the idea of cohabitation.
Almost half of the respondents (49.4%), older than 49 years of age
of 35 years old, are considering moving into housing and living in a shared ownership scheme. Of the ten
pensioners who were asked about the possibility of moving out and living with third parties, the four
of them answered that they would consider it, as companionship is an important motivation for them.
Also, co-ownership is no longer found only in secondary and holiday homes, but is the means of
to acquire a more expensive primary residence.
Michael Polzler, CEO of RE/MAX Europe, states that:"The landscape of the evolution of the real
estate in Europe highlights the resilience and adaptability of people and the market
real estate. And while the issue of economic capacity and opportunity remains complex, Europeans
address new models of home ownership and co-ownership. This is not only about adapting to the
challenges; It has to do with the change in the way and place we live. At RE/MAX Europe, we are committed to
to guide our clients to this new horizon, ensuring that their housing goals are met and that their
keep up with their economic reality. The message is clear: despite the challenges in the market for
real estate, Europeans remain committed to finding the right home that will suit their needs
their needs and ambitions".
The 15-minute smart cities
Almost a third of Europeans (31.7%) have heard of the 15-minute city concept, which places the city in the
all major services, including hospitals, workplaces and schools
facilities, within 15 minutes from residents' homes, either on foot or by bicycle.
Overall, 55% of Europeans think that there would be a big benefit if daily commuting was
shorter, while almost five out of ten respondents (44.8%) believe there would be environmental benefits
by the creation of 15-minute cities, as people would no longer have to travel long distances to get to the
distances on a daily basis. Europeans are also interested in ready access to green spaces,
especially after the pandemic.
Sustainable Homes The Green Deal and Fit for 55 programs of the E.U. place sustainability high on the list of priorities for
the home owners. To date, property owners have focused on easy solutions such as
LED lighting installation. However, the failure to invest in residential energy production and take action
for insulation and energy efficiency could lead to a decline in property value without
further investments.
The shift to renewable energy is an important sustainability trend. Almost one in five
Europeans (18.7%) have already installed solar panels on their properties and over 40% of owners
of properties expect to install solar panels (43.2%) in the near future, while nearly as many want to see greater use of sustainable building materials (40.2%) and environmentally friendly construction methods (36.4%).
About research The "RE/MAX Europe 2023 Residential Market Report" survey was conducted in the form of an online
interview, with multiple choice questions (CAWI), in Austria, Bulgaria, Croatia, Czech Republic, Finland,
France, Germany, Greece, Hungary, Ireland, Israel, Italy, Malta, Netherlands, Poland, Portugal, Romania,
Slovenia, Spain, Switzerland, Turkey and United Kingdom (excluding Scotland and Northern Ireland)
in July 2023.
The research participants (men and women between 18 and 65 years old) were selected according to national
representative quotas for age, gender and region.