Why is home ownership so low in Germany?

The rate of home ownership in Germany, which is an EU member, is low compared to other countries. The reasons for the low percentage of homeowners in Germany are; reasons such as high property transfer tax, tax deduction of mortgage interest payments for homeowners. German citizens generally do not buy a house and go to rent. When he chooses to hire a German citizen in Germany, it will be profitable for him. Because the tax on buying a house is considered quite high.

Why don’t German citizens want to own a home?

Because of the high interest rates or the high turnover of transactions when buying a house, many Germans choose to rent rather than buy a house. To give an example, while the average rate of German citizens buying a house is around 40%; It is close to 68 in Italy and 85% in Spain. It should be said that when developed countries are taken as a basis; The rate of German citizens buying a house for themselves is almost the lowest.

Germans and German citizens living in Germany prefer to rent a house rather than buy it.