In Romania, 96.1% of the population owns the home they live in. In Switzerland the percentage is 37.4%.
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Home ownership rates vary significantly across the country. The lowest rates are found in the canton of Basel-City (16.0%) and Geneva (18.3%). Relative to these two cities, home ownership abounds in Valais (57.2%), the highest. Vaud (31.4%), Zurich (28.5%), Bern (39.9%), and Luzern (34.8%) are all in between.
In addition, there is a correlation between age and ownership. 47.5% of those 65 and older own, while only 26.1% of those between 25 and 65 do. Rising prices probably explain some of this difference.
While Swiss home ownership lags behind much of the world it increased from 31.3%, in 1990, to 37.4% in 2014, a 19.5% rise. The biggest gainers were Basel (+45.5%), Zurich (+36.4%), and Geneva (+32.6%). Only one canton, Obwalden (-9.0%), saw a decline.
In nations like the UK, where buying a home is considered a cultural rite of passage, ownership rates have gone in the opposite direction. After peaking in April 2003, at 71%, UK home ownership slumped to 64% in February 2016, according to the Resolution Foundation. Outer London (-13.5%) and Greater Manchester (-14.5%), declined the most.
The US shows a similar trend. After peaking at 69% in 2004, the rate was 64.5% by 2014. And like Switzerland, home ownership in America’s principal cities is much lower than the average – it was 49.9% in 2014. Unlike Switzerland however, the ownership level in key US cities has stayed flat at 49%, showing few signs of growth.
More on this:
Swiss home ownership rates (in French) – Take a 5 minute French test now
European home ownership rates (in English)
UK home ownership rates (in English)
US home ownership rates (in English)
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lfdy says
A percentage on a percentage doesn’t make sense. Home ownership increased by 6.1% between 1990 and 2014 (or 0.25% pa) you twit. Where did you do journalism? Homeschool? As for YOU, Paul Torgerson Twitface, every country allows you to deduct valid costs such as you mention and THEY don’t annually tax POTENTIAL rent. Generally, they tax capital gains on sale (net profit). Far more jsut and allows younger people to enter the market.
Le News says
If 31 increases to 37, then it has increased by 19%. In the UK, for example, home owners cannot deduct interest and maintenance costs from their taxable income. Interest deductions help those who borrow heavily to buy, a group which includes a large percentage of first time buyers.
Srenim says
Have been a Swiss Home owner for 30 + years, no doubt because I’m English !
BUT the primary reason for low Ownership is the Draconian and Disgraceful Taxes on Owners. Tax on the Capital Value plus the totally iniquitous Tax on so-called imputed rental value that is treated as fictitious income in the tax declaration.
So you are taxed for living in your own house.
Truly a Communist-Socialist view and something the Government MUST cancel to create fairness.
KOKOU AZIABA (@KokouTonton) says
HOW DID YOU MANAGE TO PAY THOSE TAXES AND YOUR MORTGAGE RATE .
KOKOU AZIABA (@KokouTonton) says
IT IS A BIG SHAME FOR SWITZERLAND THE GOVERNMENT MUST DO SOMETHING ABOUT
Mary says
Best not to buy in Switzerland. I’ve had a load of trouble.