🏡 Age of Home Purchase by Country Around the World
Original TG post: https://t.me/art_Insides0
Over the past 10 years, housing affordability has declined sharply almost everywhere. Construction is a unique industry where labor productivity has not grown for the last 70 (!) years: there is no innovation in the industry, and labor costs and the purchase of scarce land keep rising on top of the massive immigration in recent years. Ten years ago people were buying their first home at 30; now it is at 40, and their share has fallen to 21%. Most of those who can afford to buy a home are 60+.
In Moscow, the average age of property buyers is 49.4 years. Interestingly, overall, across all age groups, the share of women among buyers is higher than in the census: 52.4% with a mortgage and 61.5% buying with their own funds.
The era of consistently high real estate prices will last another 10-15 years, until additional housing space is released onto the market purely due to demographic trends. On the other hand, the share of dilapidated housing has reached 21%, which only adds to the complexity of the situation.
Housing and rental costs by cities see in the post above (in the author's TG)
In Moscow, the average age of property buyers is 49.4 years. Interestingly, overall, across all age groups, the share of women among buyers is higher than in the census: 52.4% with a mortgage and 61.5% buying with their own funds.
The era of consistently high real estate prices will last another 10-15 years, until additional housing space is released onto the market purely due to demographic trends. On the other hand, the share of dilapidated housing has reached 21%, which only adds to the complexity of the situation.
Housing and rental costs by cities see in the post above (in the author's TG)
Ratio of positive and negative votes: 4/0