Study on real estate market in Europe
The real estate services market is underperforming for EU consumers, as stated by the Consumer Scoreboard. The sector is complex, with numerous parties involved, information asymmetries and deeply rooted traditions.
The study analysed how real estate market works for the consumers in all Member States. To this aim, the study used a range of tools, including regulatory review, consultation with stakeholders, a consumer survey, mystery shopping, and behavioural experiments to ensure robust findings.
Among its main results, the study provides information about:
- how conveyancing/renting and real estate agents are regulated in the different Member States,
- how consumers understand and can compare the information about the real estate offers,
- the role of the real estate agents,
- corresponding fees and other costs related to the acquisition of the real estate,
- a list of the major problems consumers face in the purchasing journey and, finally,
- what mechanisms exist to address and resolve these problems.