According to recent findings by the European Commission, people in Denmark and Greece are the most overburdened with housing costs. Overburdened is defined as people spending more than 40% of their income on rent, mortgage payments, and other living costs associated with their home. Twenty-nine countries were surveyed revealing the U.K. as the third most overburdened with one in six (16%) residents spending 40% or more on housing costs. In Portugal the figure was 4.2%, while in Spain it was 11.2%, in Italy 7.5%, and in France 5.2%. The U.K.’s high figure is blamed on a lack of affordable housing. The average age of first time house buyers in the U.K. is now estimated between 37 and 40. Some U.K. property project-management companies are predicting a property boom in the UK in two years time, hoping to net all the old fledglings leaving the parental nest.