Romania ranks second globally in homeownership with over 92% of residents owning their homes

Romania has achieved an impressive milestone, ranking second in the world with a homeownership rate exceeding 92%. This remarkable statistic positions the country just behind Slovakia, which leads with a rate of 93.5%.

In contrast, countries like Germany and Switzerland have much lower homeownership rates at 41.0% and 38.2%, respectively. The United States and Canada have rates of 65.3% and 68.6%, while Australia and France follow with 62.7% and 58.5%. The average homeownership rate among OECD countries stands at 70.1%.

Interestingly, a significant portion of the top ten countries in homeownership are current or former communist states. Alongside Romania, Lituania, Bulgaria, Poland, and Latvia have also made it into the top ten, highlighting a trend in homeownership across this region.

The policies surrounding housing that were established decades ago continue to shape today's real estate landscape. Following the collapse of communism, many state-owned apartments were privatized and sold to tenants at very low prices, which contributed significantly to the high ownership rates seen today.

A similar trend occurred in China during the 1990s, where reforms led to the sale of many public apartments at subsidized prices, drastically increasing private homeownership. This shift has made the real estate market a key pillar for consumer welfare and the broader national economy in China.