Renters are the majority population in Switzerland
According to a recent international study from U.S. apartment search website RENTCafé, 29 out of the 30 most populous developed countries are majority homeowners. The only exception is Switzerland where 56.6% of its entire population prefers renting a home.
Despite most countries’ affinity to homeownership, renting is on the rise and has seen significant increases across the world, especially in places like Ireland and the United Kingdom.
As a country with a long history of renting, Switzerland only saw a 1.8% increase in the share of renters between 2010 and 2015. The country’s population also decreased by 0.33% and since the capita GDP rose by more than 18%, both housing prices and rent prices went up.
Along with Switzerland, Hong Kong, Germany, South Korea and Austria also boast a
population of over 40% renters. One possible explanation for this shift towards renting
might be the favorable laws for renters or simply the fact that it may be more affordable
than buying a home. On the other hand, there are a few countries where renting is losing its appeal. In Russia for example, the percentage of renters dropped by 28%.
The study shows that there is a tendency to rent in more developed countries while owning is more common in the less developed parts of the world.
Read the full study on RentCafé