With 96.1%, Romania ranks first, followed by Slovakia with 92.3%, the survey carried out by Compare the Market Australia found.

Croatia shares third place with Hungary. Germany, with 50.4%, has the lowest proportion of private home ownership.

Demand for private property is much higher in central Europe, while in western Europe there is generally more of a rental culture, the paper said.

Property prices per square metre in Hungary average 2,250 euros, putting it at the top of the region, while rental prices are also high, though Slovakia and Lithuania are ahead of Hungary in this regard. In Hungary a flat costs an average 453 euros to rent.