Top 10+ Nations Where Homeownership Is Nearly Impossible

Switzerland: The Land of Renters

Switzerland is known for its stunning landscapes, but for many, buying a home here is simply out of reach. Around 60% of Swiss people rent instead of owning, and the reason is crystal clear: property prices in cities like Zurich and Geneva are sky-high.

In Zurich, the average cost per square meter is CHF 13,000, which translates to about $14,000—a figure that dwarfs the average Swiss salary. Strict mortgage rules add to the challenge, as banks often require down payments that exceed 20% of the property price.

For a typical apartment, this upfront cost alone can be more than many people’s yearly income. The Swiss government’s regulations are intended to keep the market stable, but they also shut out first-time buyers.

Renting isn’t just common, it’s a cultural norm, and most people don’t see owning a home as necessary. The result is a robust rental market and a society where homeownership feels more like a fantasy than a goal.

Denmark: High Prices and Low Supply

In Denmark, the dream of owning a home is becoming harder and harder for everyday people. The city of Copenhagen is especially tough, with the average home now costing DKK 3.5 million, which is roughly $525,000.

There simply aren’t enough houses to meet demand, driving prices even higher and sparking fierce bidding wars. Government regulations make it harder for first-time buyers to get a foot in the door, often requiring higher savings and paperwork.

Young Danes are increasingly stuck living with their parents or in shared apartments well into adulthood. The rental market isn’t much better—competition is fierce, and rents are climbing.

Even people with stable jobs find themselves priced out, unable to save enough for a down payment. The growing gap between wages and property prices has made homeownership almost a luxury for most Danes.

New Zealand: The Housing Crisis

New Zealand’s housing crisis has been making headlines for years, and in 2025, the situation looks as bleak as ever. In Auckland, the average home now costs NZD 1.2 million, about $800,000 in US dollars.

That’s miles outside what most people can afford, especially for young families and first-time buyers. Government attempts to cool the market—like restrictions on foreign buyers—have done little to help those struggling to buy.

Many Kiwis are forced to rent indefinitely, often paying high prices for homes that need repairs. The influx of wealthy foreign investors has only driven prices up further, creating a two-tiered society of “owners” and “forever renters.” Some young people have even left the country, searching for affordability elsewhere.

For most, the idea of owning a home in New Zealand has turned from a dream into a distant hope.

Canada: Skyrocketing Prices

Canada’s housing market has become one of the priciest in the world, especially in cities like Toronto and Vancouver. The average home price in Toronto sits at CAD 1.1 million, or about $850,000, which is far out of reach for many Canadians.

Low interest rates and a surge of foreign investment have fueled this rapid rise, while stricter mortgage rules have made borrowing harder. Many young Canadians now rent for much longer or move back in with parents to save money.

The rental market, too, is under pressure, with high demand pushing rents higher each year. Government efforts to slow down the market have yet to deliver major results, and prices keep climbing.

Wages haven’t kept up, leaving people feeling locked out. For many, the Canadian dream of homeownership is slipping away.

Australia: The Great Australian Dream Fading

In Australia, the “Great Australian Dream” of owning a home is becoming out of reach for a growing number of people. Sydney’s average house price has soared to AUD 1.5 million, or about $1.1 million, making it one of the world’s most expensive markets.

Rising costs of living, paired with wages that have barely budged, are making it nearly impossible for young Australians to save for a deposit. Banks have tightened their lending standards, demanding more paperwork and larger deposits from buyers.

Many young adults are stuck living with their parents or paying high rents in shared housing. The rental market is also booming, but that just pushes prices up further.

For a huge number of Australians, the idea of owning a home is becoming more of a fantasy than a realistic goal. Even professionals with good jobs find themselves priced out of the market.

Germany: Renting is the Norm

In Germany, renting isn’t just common—it’s the standard way of living for about half the population. In big cities like Berlin and Munich, rents have soared over the past few years, with some places seeing yearly increases of over 10%.

This makes it incredibly tough for people to save enough money for a down payment, especially with property prices also on the rise. German laws make it difficult for first-time buyers to break into the market, requiring lots of paperwork and high upfront costs.

Many Germans actually prefer renting because of the flexibility and tenant protections built into the system. But as the rental market heats up, even finding a good apartment is getting tough.

For young people and newcomers, the idea of owning a home is often just out of reach. The culture, combined with economic realities, keeps homeownership rates stubbornly low.

Japan: An Aging Population and Stagnant Prices

Japan’s housing market presents a unique set of challenges: while homeownership rates are high, young people find it increasingly difficult to buy. The average cost of a home in Tokyo is now around JPY 50 million, or about $450,000, far above what most young workers can afford.

With an aging population and shrinking family sizes, there’s less demand in some rural areas, but prices in major cities remain stubbornly high. Stagnant wages and strict lending rules make things worse, so many young adults continue living with their parents.

Urban rental markets are also tight, with high prices and limited choices. The government has tried to encourage homeownership with some incentives, but the impact has been limited.

Many young Japanese feel stuck, unable to build wealth through property. For them, the dream of owning a home in a major city is fading fast.

Singapore: Limited Land, High Demand

Singapore’s housing market is shaped by its tiny size and dense population, making land a precious commodity. The price of a private residential property has hit SGD 1.5 million, about $1.1 million, putting homeownership out of reach for many.

The government has tried to help with public housing programs, but the private market remains tough to crack. Strict rules for property purchases and high down payment requirements keep first-time buyers at bay.

Many Singaporeans rent apartments, but even rents have been rising thanks to intense competition for limited space. With so little land available, prices are unlikely to fall anytime soon.

Young couples and families often face years of saving just to afford a modest flat. Homeownership here remains a challenge even for the financially stable.

Hong Kong: The World’s Most Expensive Market

Hong Kong’s property market is notorious for being the world’s most expensive, with an average home price nearing HKD 10 million or about $1.3 million. Space is at a premium, and new apartments are often tiny, yet still cost more than entire houses elsewhere.

Strict lending rules and huge down payments—sometimes as much as 40%—mean only the wealthy can even consider buying. Even professionals in high-paying jobs often find themselves stuck renting, sometimes in cramped conditions.

The government offers some public housing, but the waiting lists are long and the supply is limited. Demand from both local and overseas investors keeps pushing prices higher.

Many families live in small, subdivided apartments, with little hope of affording a home of their own. The dream of homeownership in Hong Kong feels more distant than ever.

United Kingdom: The London Squeeze

The United Kingdom, especially London, is facing a growing homeownership crisis. The average price of a home in London is now over £650,000, or about $800,000, making it unaffordable for most first-time buyers.

Stagnant wages, stricter lending rules, and a chronic shortage of new homes have created a perfect storm. Even people with good jobs are forced to rent long-term, with some spending more than half their income on rent.

Young adults are increasingly living with parents into their late twenties or thirties, unable to save enough for a deposit. Government schemes to help first-time buyers have had limited impact, as prices keep rising faster than people can save.

Some Londoners are now leaving the city in search of affordability, but prices across the UK remain high. For many, homeownership is now more of a hope than a plan.

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