The latest research from the international rental marketplace, Spotahome, has found that the average age of renters across Europe has dropped since the Covid outbreak at the start of 2020.
Spotahome analysed the average age of those renting via its platform across 11 major European cities since the outbreak began in January 2020 and how this average age compares to the same time period pre-Covid.
The figures show that overall the average age of tenants in these major cities has fallen from 28 to 27. While this may seem insignificant, it signals a changing trend within the rental sector with a full year’s difference proving quite significant at a top-line level.
Spotahome Head of Data and Analytics, Jorge Alonso, commented: “A decline of one year in the average age might not sound like a lot, but it highlights that actually, the sector has seen quite a significant drop in the age of those renting.
“This has, of course, been a result of the current pandemic as those of a younger age are believed to be less susceptible to the impact of the virus. As a result, the continued threat of Covid has been less of a deterrent for younger tenants and so they’ve continued to plan their next steps in the rental market.”
Milan and London are home to the youngest tenants, both cities are home to an average age of just 26, down from 27 in 2019.
At 29, both Dublin and Lisbon are home to the oldest tenants having seen no change year on year, with Madrid also seeing no change although the average age of renters in the city is currently 28.
The average age of male renters in Europe is down from 29 in 2019 to 28 in 2020, while the average female is aged 26, also down a year from 27 in 2019.
Those renting apartments are the oldest with an average age of 31, while tenants in residence and room shares are the youngest with an average age of 24 and 25 respectively.