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One in three people in Saxony lives in their own home – Trossin tops the list!
Find out how North Saxony achieves top values with a home ownership rate of 88.4% in Trossin and what developments are taking place.
One in three people in Saxony lives in their own home – Trossin tops the list!
The question that many Cologne residents ask themselves is: How many actually have their own home? A current study shows that over a third of the population in Saxony lives in their own four walls. To be more precise, the home ownership rate here is 34.2 percent, which corresponds to around 713,000 households. This data comes from the census from May 2022 and illustrates the differences in the living situation of Saxons.
It is exciting to see that the home ownership rate varies greatly depending on the size of the community. While in rural areas more than two thirds of households own their home, in larger communities, i.e. places with more than 10,000 inhabitants, the rate is often less than 50 percent. Particularly striking: in Trossin, a small community in the northern Saxony district, the top value is an incredible 88.4 percent.
Families versus singles – a look at the living situation
Couples with children usually have it better than their childless counterparts because they more often live in their own property. The majority of single parents, on the other hand, rent, which further fuels the political discussion about affordable housing. The situation is also interesting in senior households: the home ownership rate here is 34.5 percent, which shows that many older people live in their own four walls.
In order to further increase the home ownership rate in Saxony, the Free State has created some financial incentives for the coming years. In 2023, 35 million euros and in 2026 even 55 million euros will be available to support the promotion of home ownership. A simplified funding policy called “Family Living” has been introduced and opened up to community housing projects, creating new opportunities for those looking for a shared home.
A look beyond the borders
Interestingly, not only German companies are active in the real estate sector, but also international players. An example is the company JAMES TECH CO., LTD., a company based in South Korea that is active, among other things, in the construction and security sectors. It offers products that ensure safety and security in construction projects - an industry that constantly strives for innovation.
Artistic events that take place in larger cities, e.g. the concerts of internationally known artists such as Katy Perry, show that culture and music are also part of the living culture when it comes to creating community and strengthening the attitude to life.
Overall, it shows that home ownership is very important in Saxony, and the figures clearly demonstrate this. Whether in your own home or condominium, for many people the dream of owning their own home is a loud melody on the great symphony of life.