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> People in Germany seem to prefer rent over freehold property, this might explain Germany's low numbers compared to other states. For the average German, buyi
by _pmf_ 9y ago
> People in Germany seem to prefer rent over freehold property, this might explain Germany's low numbers compared to other states.
For the average German, buying a house means 30 years of debt: 300 000 EUR vs. 50 000 EUR salary (which is actually 30 000 EUR due to taxes and mandatory health insurance).
- readittwice 9y agoBut is this really different in other countries? I would say the numbers also apply for Austria. Although 300k is probably more the lower bound. Even if you built the house yourself in the rural area of the country. Austria already has a higher number of freehold property compared to Germany. IMHO much of the difference between countries in this regard can be explained by tradition, history or population density.