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Renting a foreign way of life

Renting a foreign way of life

Home ownership has for many years now been the aim of most young people in the UK but other nations throughout Europe have been more than happy to live in rented accommodation.

German property owners amount to only just above a third of the population whereas in the UK it is closer to two thirds and while the number of new buyers to the UK property market is falling among young people some areas of the German property market are seeing an increase in the number of people moving from the rental market into a home of their own.

Renting property has been an accepted way of life in Germany where local governments operate rent controls and a more cautious approach to home finance deals is exercised by the country's lenders who demand significant guarantees of a person's abilitiy to repay a loan before funds are released.

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Published: 08-Jun-11

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