Housing Crisis in Europe

The housing crisis is real for young people in Europe.

• Homelessness has almost doubled in the EU over the last decade, as property prices have spiralled across the continent.
• Housing costs on average were around €401.9 per month for poor households, according to the data from 2017. Greece and Malta were outliers.
• One state from Eurostat noted that between 2010 and the first quarter of 2021, rents increased by 15.3% in the European Union.
• On top of this, real estate companies across the EU are buying up swathes of properties and accelerating gentrification thereby leading to higher rents.
• There has been a rise in the institutional investment in Europe's residential market. It high record highs in 2020 accounting for nearly 30% of total acquisition activity.
• While rent contol is becoming increasingly popular in Europe, it is not a solution to the housing crisis faced in many cities. Experts say it can drive away investors.
• From landlordism, large-scale property investment and the knock-on effects on communities, this reading gives you some insights into why housing is Europe’s next huge political issue.