Study: Number of homeowners in Saxony on the rise

Renters remain the majority

The number of renters in Saxony remained almost the same during the period under review and only fell slightly. In 2022, the institute counted just over 1.4 million tenant households - that is 66 percent of all households.

Reproach to the federal government: chance of home ownership "zero"

According to the study, Germany ranks second to last among 19 European countries - only Switzerland has even fewer homeowners in proportion. Chief economist Matthias Günther blamed "political failure" for the trend reversal: "For average earners, the chance of owning a home today is zero." The study, which was published at the "Bau" trade fair in Munich, was commissioned by the German Building Materials Trade Association (BDB).

Austria outperforms Germany

Slovakia is in first place among the 19 European countries, where a good 90 percent of households live in their own house or condominium, according to the study. As far as German-speaking countries are concerned, Austria comes out on top: There, the home ownership rate is at least well over half.

Rent increases contribute to poverty in old age

The authors sharply criticize the development, not least because the constantly rising rents in cities contribute to poverty in old age.rent," said Matthias Günther, head of the study, referring to older tenants who can no longer afford their homes and therefore have to move.

In a model calculation, the institute compares two households with identical average incomes from one full-time and one part-time job and an identical 100-square-metre apartment. On reaching retirement age, an owner-occupied household would be left with a net income of 2,200 euros after deducting all costs, while a tenant-occupied household would only have 1,450 euros. "Renting forces people to tighten their belts considerably in old age," said Günther.

Demand: Federal government should promote the purchase of property

The Federal Building Materials Association, as the client, called for reliable federal funding for the purchase of one's own residential property, as did the Pestel Institute. "So far, the Federal Ministry of Construction has unerringly bypassed the housing market and thus people's lives," criticized BDB President Katharina Metzger.

The German data from the Pestel Institute comes from the 2022 microcensus. The surveys by real estate associations, banks and credit brokers indicate that the situation for both tenants and prospective buyers has worsened and not improved over the past two years.

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