Older homeowners are willing to move to newly built apartments, freeing up large family houses for younger buyers, according to new research by the Kadaster land registry office.
The research shows that more than half of newly built apartments in recent years were bought by people aged 55 and over and that between 2018 and 2024, seniors accounted for 28% of all new-build purchases.
The findings challenge the idea that older homeowners are unwilling to move because it is financially unattractive to leave a large house.
Size, however, remains an important factor. The research found that older buyers choose relatively large homes, with newly built properties averaging around 136 square metres.
In almost 90% of cases, seniors who moved into new-build homes left behind a family house – about 50,000 properties between 2018 and 2024. Many older buyers also prefer quiet neighbourhoods and good access to local facilities, particularly those aged over 65.
However, the report warns that current building plans may not match demand. Developers are increasingly focusing on smaller, cheaper apartments, which may appeal to first-time buyers but are less likely to persuade older homeowners to move.
Efforts to persuade older home owners to move out of family homes once their children have left have a key role in the new government’s plans to solve the current housing crisis.
According to a report in economics journal ESB last November, 20% of all new-build projects in 2024 consisted entirely of apartments, up from 11% in 2018. Around a third had a floor area below 75 m².
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