Is Britain moving to a German housing model?
2018-06-19Great Britain is moving towards a German housing market model with growing numbers choosing to rent rather than buy a home. Around 34% of Britons currently live in rental accommodation, with 70% of these people saying they have no plans to purchase their own property, according to insurer Direct Line for Business. The country now has one of the lowest levels of owner-occupation in the EU, with only Denmark, Austria and Germany having a higher proportion of renters. Just half of Germans own their own home, thanks in part to a raft of government measures that ensure renting remains affordable and attractive. Christina Dimitrov, business manager at Direct Line for Business, said: “The UK housing market continues to change, and we are seeing a major attitudinal shift when it comes to renting.
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