ING News: 78% of home owners agree that a decline in real estate prices would be beneficial for society as a whole

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When you take a closer look at real estate prices all over Europe, an overvaluation in certain countries is noticeable, even though this does not stop a -sometimes steep- rise in prices.

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01/10/2015 |
  • Impact-of-price

According to the most recent study of ING International Survey on real estate, 69% of European owners (and 78% of tenants) agree that a decline in prices would be beneficial for society as a whole, against 78% of owners (and 89% of tenants) in Luxembourg.
This opinion is widely shared among all age groups, even if the youngest age group (18 - 24) is the most numerous to share this opinion (87% in Luxembourg and 76% as the European average), against 82% of the 24 - 34 age group, 78% of the 35 - 45 age group, 83% of the 45 - 54 age group and 82% of the group aged 55 and older.

Despite the high prices of real estate, the youngest age group is generally more likely to think of property as an investment: 50% of the 18 - 25 age group against 44% of the 25 - 34 age group, 46% of the 35 - 44 age group, 45% of the 45 - 55 age group and 40% of the group aged 55 and older.

In Luxembourg, the results also vary according to nationality: 60% of foreign residents consider the purchase of real estate property as an investment, against 34% of national residents.

Similarly, 55% of Luxembourg residents without nationality consider that purchasing real estate is a sufficient means of saving for retirement, as opposed to 40% of national residents.

More details can be found on eZonomics.com: http://www.ezonomics.com/ing_international_survey/homes_and_mortgages_2015

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