Homelessness is undoubtedly a huge global problem. With an estimated 100 million people currently homeless, the fact there are millions of homes around the world lying empty is even more shocking. To find out which countries are the worst offenders when it comes to leaving properties vacant, the mortgage experts at money.co.uk have analyzed OECD data to reveal the countries where empty properties make up the biggest proportion of the total housing.
The country with the most vacant homes in the world is Japan, with 13.6 percent of all homes in the country empty. An aging population and a decline in birth rate mean that Japan’s population is currently declining and therefore housing demand is falling. The second-home tax may also be putting people off inheriting any relatives’ properties, due to hefty fees. Coming in second is Cyprus, home to 56,851 empty dwellings, which accounts for 1 in 8 homes on the Mediterranean island. Another country with a high level of empty homes is Hungary, where 12.3 percent of properties are currently unoccupied. Poland comes 13th in this ranking with 1,038,220 unoccupied homes which makes 7.2 percent of the total number of homes,