Although the reasons for owning two properties are often practical, critics warn that this increases prices, reduces the availability of housing, and destroys local communities. Tportal.
While many people dream of having their own roof over their heads, others have one or more houses and apartments. In fact, as many as 69 percent of Europeans own one, and a quarter of the total population and another real estate, shows a report on housing trends, published by the international real estate agency Re/Max.
The highest number of owners of two properties was recorded in Bulgaria (46 percent), followed by Greece (39 percent), and Croatia (37 percent).
Interestingly, the Minister of Construction Branko Bačić warns of 600.000 empty apartments which has left the real estate market overcrowded and prices rising. However, the rental market has become more active in recent weeks, largely due to the migration of students to university centers where there is a shortage of student accommodation.
But, aside from the problems in Croatia, they are also reflected elsewhere. For example, only eight percent of Dutch people own a second property, while as many as 57 percent of them thinks real estate is too expensive. However, the record holders for real estate pessimism are the Irish. Only 11 percent of them own another property, and 71 percent claim that they are too expensive.
'In Ireland, the overall housing situation appears challenging, with 18 per cent of respondents dissatisfied with their current living conditions – the highest percentage among European countries. The main driver of this dissatisfaction is affordability, and almost half (48 percent) of dissatisfied respondents cite it as their main concern', according to the Re/Max report, which Euronews.
From a weekend house to an investment
For some, second homes are not empty, while for others they are gaping for a reason. Namely, 44 percent of the survey participants consider second homes to be weekend homes. 23 percent of them will move into second homes when they retire. Around 16 percent of Europeans rent their houses and apartments out long-term, and the same percentage rents them through online platforms. For 14 percent of people, real estate is part of an investment portfolio, and one in 10 Europeans uses it to live between two cities.
Almost 40 percent of people have other real estate in your country of residence, and 13 percent of all owners who do not currently own another property say they are likely to own one in the future.
'The appeal of owning a second property is an investment in lifestyle, financial comfort and leisure time. And despite a more challenging economic climate, The ambition to achieve this dream remains strong for many on the continent., which will mean that owning a second property will continue to play a significant role in real estate markets in Europe,' Re/Max said in the report.
The rise of remote workIt has fueled a trend of home ownership, but also discontent with ownership, as it encourages rising prices and excessive tourism. Critics argue that owning more homes harms local communities, increases demand, reduces supply, and drives up prices.
Resistance to ownership
Across Europe, dissatisfaction with second-hand property ownership is growing because encourages rising real estate prices and excessive tourism.
Critics have said that in many countries, when someone with higher disposable income owns property in other locations, it has harmful social consequences for local communitiesThey claim that this increases demand and drives up prices. The situation is exacerbated when other properties are rented out through short-term accommodation platforms.
'Where holiday homes are empty or only temporarily occupied in areas of high demand, tension is growing as there is often lack of affordable options for properties where people would live,' she told Euronews Alexandra Latham, Communications Director of Housing Europe.
Such phenomena have prompted stricter regulations on short-term rentals, tax increase and introduction special affordable rental programs as in Croatia. In Barcelona, short-term rentals have been banned since April of this year, and from 2028, existing licenses will not be renewed.
Source: Tportal
Photo: Illustration (mpgi.gov.hr)
