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Determinants of homeownership in Europe – an empirical analysis based on SHARE

Maria Teresa Medeiros Garcia (Department of Economics, ISEG, Lisbon School of Economics and Management, Universidade de Lisboa and UECE/REM – ISEG, Universidade de Lisboa, Lisboa, Portugal)
Rafael Figueira (Department of Management, ISEG, Lisbon School of Economics and Management, Universidade de Lisboa, Lisboa, Portugal)

International Journal of Housing Markets and Analysis

ISSN: 1753-8270

Article publication date: 16 March 2020

Issue publication date: 9 February 2021




The purpose of this paper is to explore the determinants of homeownership in Europe.


In this study, a logit model that predicts whether an individual is a homeowner or not was estimated. Wave 6 (2015) from the Survey of Health, Ageing and Retirement in Europe was used, through a sample of 46,003 respondents across all Europe and through four subsamples (Eastern, Southern, Northern and Western Europe).


The findings reveal that several factors influence homeownership, namely, geographic location, age, gender, number of children, marital status, job situation, household income, high education, years of education, political orientation and holding bonds, stocks, mutual funds, bank accounts, saving accounts, individual retirement account or life insurance. Different results were obtained when the four subsamples were considered.

Research limitations/implications

The research findings provide an attempt to disentangle the main factors influencing homeownership. However, only individuals above 50 years of age were considered because of the database characteristics.

Practical implications

This paper provided insights to consider public policies that try to increase homeownership rates.

Social implications

The results put in evidence the likelihood characteristics of a homeowner. Therefore, public policies should address those who do not fulfill those when promoting higher homeownership rates. For example, attention should be given to low and middle-income individuals.


The paper emphasised the characteristics of a homeowner in Europe, contributing to the discussion on this topic among policymakers, practitioners and researchers in Europe.



This paper uses data from SHARE Wave 6 (DOI: 10.6103/SHARE.w6.611), Börsch-Supan et al. (2013) for methodological details. The SHARE data collection has been primarily funded by the European Commission through FP5 (QLK6-CT-2001-00360), FP6 (SHARE-I3: RII-CT-2006-062193, COMPARE: CIT5-CT-2005-028857, SHARELIFE: CIT4-CT-2006-028812) and FP7 (SHARE-PREP: N°211909, SHARE-LEAP: N°227822 and SHARE M4: N°261982). Additional funding from the German Ministry of Education and Research, the Max Planck Society for the Advancement of Science, the US National Institute on Aging (U01_AG09740-13S2, P01_AG005842, P01_AG08291, P30_AG12815, R21_AG025169, Y1-AG-4553-01, IAG_BSR06-11, OGHA_04-064 and HHSN271201300071C) and from various national funding sources is gratefully acknowledged (see

The authors acknowledge financial support from FCT – Fundação para a Ciência e Tecnologia (Portugal), national funding through research grant UIDB/05069/2020.

Conflict of interest: The authors declare that they have no conflict of interest.


Garcia, M.T.M. and Figueira, R. (2021), "Determinants of homeownership in Europe – an empirical analysis based on SHARE", International Journal of Housing Markets and Analysis, Vol. 14 No. 1, pp. 14-38.



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