A First Time For Everything?

Recent research from the ING International Survey On Homes And Mortgages has revealed that first-time home buyers in various European countries are starting to give up on the dream of that house in the middle of the street. Approximately 35 percent of respondents expect not to buy a house at all due to a combination of high property prices, increasing rental costs and insufficient income. This is especially the case in Germany and Italy, with the smallest shares reached in Spain and Turkey. On average, Europeans expect to own their first property at the age of 34 with 64 percent of young people first moving from their childhood homes into rented accommodation, either alone, with a partner or with friends.