Houses and apartments will only be months later: Due to Corona, a new problem threatens to

The declared Andreas Ibel, President of the Federal Association of Free real estate and housing companies in Berlin. The real estate companies played a key role

Houses and apartments will only be months later: Due to Corona, a new problem threatens to

The declared Andreas Ibel, President of the Federal Association of Free real estate and housing companies in Berlin. The real estate companies played a key role in the economy after the shutdown. "The Problem of the shortage of housing will continue to increase if we are warned here against taxes," Ibel.

Specifically, 75 percent of respondents to the real estate stated in the published on Thursday, the Association of survey companies, that your business is operating, the Corona-crisis will be affected. In the case of stock holders, almost two-thirds (65 percent) reported problems with property developers and project developers, it was 79 percent.

supply chains are interrupted, building permits take longer to

The survey was conducted from 29. April to 6. May be charged. It 184 the Association of companies of the BFW also took part. Further results at a Glance:

  • Four-fifths of the developers complained that the building permits, the creation of planning takes law and land use planning in municipalities is still longer than usual.
  • In the operation and organization of construction sites, there are over a fifth (21 per cent) to trouble, such as subcontractors remain remote, or the security measures interfere with the work.
  • in Addition, 38 percent of the developer defendant, delayed, or interrupted supply chains.
Nearly two-thirds expect several months of construction delays,

According to pessimistic, the developers assessed the prospects: Good 60 percent expect the number of building permits requested drops this year. Almost three-quarters expect the start of construction in projects has been postponed for several months. For 63 percent, it appears that it also comes at the completion of the multi-month delays. (Display)

apartments, houses and commercial objects.

you will Find the right property

BFW-Association of chief Ibel called for more speed in the case of the municipalities: procedures should be simplified, accelerated, and digitized to a slump in new construction to avert, he demanded.

Significantly fewer contracts in the first Corona-crisis month of March

in fact was already observed in March that the Corona-crisis adversely affected the construction activity in Germany:

  • In the first Lockdown-month order intake declined in the construction industry-adjusted increases in price (in real terms), an increase of 10.5 percent compared to the previous month, as the Federal Statistical office announced on Monday in Wiesbaden.
  • compared to the previous month orders (in real terms) decreased by 10.3 percent.
  • In the first quarter, the order intake (in real terms) declined over the same period last year to 2.9 percent.

Such declines are not unusual. However, the development indicates that, "companies have postponed planned construction projects due to economic uncertainty in the Corona-crisis", according to the experts.

Actually, German want to invest in real estate

Also for those who are thinking of investing in one's own home, the problems of the construction industry unfavorable news. Actually, residential property just because of the possible economic consequences of the Corona of a pandemic in addition to attractiveness, as a recent survey conducted on behalf of Fortis AG. So you Finance your home, Our PDF guide shows you how to find cheap loans, pitfalls to bypass and get money from the state.To the PDF guide

Thus, 52 percent of the respondents replied to the question of whether the ownership of residential property by the Corona-crisis, you'll generally attractive, 'Yes', while 30 percent responded with 'no'. 42 percent of the survey participants stated that residential property is a safety factor in times of crisis, whereas only eleven percent of it as a factor of uncertainty in times of crisis rate.

half the interested parties want a decision-making

move to The uncertainty in the Corona is large, however, 27 percent of respondents at the Moment to see inexpensive entry-level opportunities and would invest in residential property. In contrast, 51 percent, would wait at the Moment, rather the impact of the current crisis in the case of a decision for or against residential property.

there was no consensus in their evaluation of the development of the real estate rates: 29 percent said that prices are likely to decrease, while 27 per cent are convinced that the purchase prices will tend to rise, and 24 per cent that they will stagnate. Display

turbulence are hardly any Alternatives to

For the time after the crisis, the respondents are, however, positive expectations, 39 percent gave an option to purchase residential property, if the worst effects of the crisis are overcome, as well, 21 per cent as rather poor.

"residential property in Germany by the Corona-crisis high," summarises Oliver Koch of Fortis. For self-users as well as for investor profits of residential property as a pension provision more and more important, especially due to the economic uncertainty, the market environment of low interest rates and the turbulence on the stock. Due to a lack of suitable investment alternatives, there would be "just in the residential segment," increased investment pressure.

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pom/dpa
Updated Date: 25 May 2020, 04:27

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