Do you really need to own a home?
The answer depends on where you live.
Around the world, cultures and policies shape whether people buy or rent:
Nations of Owners
Romania, Slovakia, Hungary, Croatia, Kazakhstan → ownership dominates, driven by socialist-era housing privatized and sold cheaply.
Singapore → despite sky-high prices, public housing plus pension financing ensures almost everyone owns.
India → culturally, “a home = security.” But there’s a big split → rural India sees near-universal ownership, while in cities affordability gaps push many into rentals.
China & Vietnam → ownership is deeply cultural, tied to land access and social status.
In-Between (Owners & Renters)
UK, US, France, Japan → owning is common, but renting is equally accepted. Families spread wealth between homes, pensions, and financial markets.
Renting Strongholds
Germany, Austria, Switzerland → renting isn’t a stigma. Leases are secure, tenant rights strong, and people build wealth via pensions and markets instead of only property.
Where Ownership Stays Low
Nigeria → rapid urbanisation but little mortgage access.
UAE → an expat-driven population where renting is the default.
Hong Kong → the world’s priciest housing market, with luxury towers standing empty while ordinary residents struggle for affordable homes.
So what can India learn?
Blend models → Affordable first homes (like Singapore) + secure rentals (like Germany).
Curb speculation → Vacancy taxes to stop hoarding.
Build what’s needed → Avoid Hong Kong’s luxury trap.
Boost financial literacy → So wealth isn’t locked only in property.
