Rental market uncertainty: Which countries feel most insecure?

Tenure insecurity for land and housing is on the rise globally, including in Europe, warns a new report. Increasing rent and mortgage costs are among the key drivers of this growing perception of insecurity.

The latest global assessment of land and housing tenure security reveals concerning trends. According to the 2024 Prindex Report, approximately 1.1 billion adults worldwide – representing 23% of the global population – feel insecure about their rights to property or land. This perception has risen significantly over the past four years.

In Europe and Central Asia, nearly one in five adults (19%) reports feeling insecure. Financial pressures, such as rising rent and mortgage costs, are among the primary contributors to this growing insecurity in Europe.

But how do perceptions of tenure security for land and housing vary across Europe? Which countries feel most insecure, and what factors drive these perceptions? Euronews Business takes a closer look at the situation in Europe.

In 2024, among the 19 European countries included in the survey – encompassing EU members, candidate countries, and the UK – Turkey and Greece emerged as outliers, with insecurity levels 35% or higher. Ukraine closely followed at 33%, with perceptions of insecurity surging dramatically since Russia’s invasion.

Financial instability plays key role

Anna Locke, co-director of Prindex, told Euronews Business that financial instability plays a key role in the heightened insecurity observed in Turkey and Greece.

“In Turkey, a rising trend of renting over homeownership and concerns about landlords or owners asking tenants to vacate are major drivers,” she said.

“Similarly, in Greece, prolonged economic hardship and declining real wages have left families struggling to secure stable housing, despite broader economic recovery,” she added.

In Cyprus, one in four individuals (25%) expressed feelings of insecurity about their land or housing tenure while, in Albania, this figure stands at 20%. In the UK, tenure insecurity was reported by 14% of respondents, a level higher than that of many other European countries.

The lowest perceptions of insecurity were observed in Lithuania (6%), followed by Bulgaria and Moldova, both at 7%.

Meanwhile, the figure stands at 8% in Poland, 11% in Italy, and 12% in Hungary and Croatia.

Dramatic increases in tenure insecurity in Ukraine and Greece

Between 2020 and 2024, Ukraine experienced the most significant rise in tenure insecurity not only in Europe but globally, surging from 10% to 33%. The sharp increase is attributed to the devastating impacts of Russia’s invasion, which has led to the widespread destruction of housing, contamination of land, and the displacement of millions.

Greece also witnessed a dramatic increase in perceived tenure insecurity, rising from 16% in 2020 to 35% in 2024.

What’s driving the surge in Greece?

Anna Locke explained that the marked rise in tenure insecurity in Greece over the past two decades reflects a combination of systemic challenges.

“Since 2000, Greece has faced persistent financial crises, exacerbating income gaps and undermining household stability. Recent government policies promoting hard-hitting foreclosures on sub-prime mortgages have likely compounded fears of eviction, particularly among property owners unable to meet mortgage payments,” Locke noted.

She added: “Together, these factors create a climate of uncertainty for both renters and homeowners.”

In the 2020 survey round, which included around 40 countries in Europe, Turkey topped the list with a tenure insecurity level of 31%, just as it did in 2024.

Among Europe’s five largest economies, France reported the highest level of tenure insecurity at 18%, followed by the UK at 11%.

Reasons for tenure insecurity: Financial pressure

Respondents who felt insecure were also asked to indicate their reasons. The results, presented as weighted percentages of the total sample, show that globally, financial issues and conflicts are the leading causes of tenure insecurity. The report found that the increase in insecurity is associated with finance, which affects a large portion of the population who may be unable to pay their rent, mortgage, or other costs.

In Europe and Central Asia, the two main reasons for tenure insecurity are: “The owner or renter may ask you to leave” (10%) and “lack of money or other resources needed to live in this property”. (9%).

In Turkey, concerns about being asked to leave by the owner or renter are particularly pronounced, with 31% of respondents citing this reason. The 25% rent cap between mid-2022 and 2024, combined with rising inflation and market prices, has triggered violent landlord-tenant disputes, leading to multiple deaths and injuries in the country.

Turkey also leads in concerns about a “lack of money”, with 25% of respondents expressing this issue, followed by Greece at 20%.

A call for global action

The report demonstrates that the world is drifting further away from securing equal rights to land and housing for all by 2030 as outlined in the UN Sustainable Development Goals.

Malcolm Childress, lead author of the report, notes: “These findings are a wake-up call to policymakers globally. Tenure security is not just a problem for low-income countries – financial instability, eviction threats, and conflict are making property rights less secure for millions, including in the most developed nations.”

Policy recommendations:

The report advocates for focused, country-specific strategies to address the diverse factors driving tenure insecurity. These strategies include:

Financial safety nets and social protection policies to support renters and mortgage holders facing financial challenges.
Expansion of affordable housing programmes, including social housing and community land trusts.
Increased efforts to address gender disparities, as women globally remain less likely to have secure property rights compared to men (40% versus 48%).

The proportion of “household expenditure dedicated to housing, water, electricity, gas, and other fuels” has significantly increased over the past 20 years in the EU. Euronews Business had also reported the share of minimum wage income spent on rent varies across Europe, from 35% in France to 56% in the Netherlands.