real estate prices in Germany have been rising for years. The latest data by the real estate Bank Interhyp documents. Average real estate prices including incidental costs rose in Germany alone in the first half of the year 2020 compared to the year-on-year seven per cent, according to Jörg Utecht, Chairman of the Board of the company.
The average purchase price of a Interhyp financed property was then included in addition to the costs 1. Half of 2020 at an average of 434.000€. In 2010, he reached, on average, 277.000 euros. This is a Plus of 56.7 percent – within only ten years.real estate: The cheapest and most expensive districts of Postbank, HWWI nationwide are the 10 cities/counties with the highest and the lowest multiplier. The multiplier shows how many years a tenant could buy to pay the average rent, the total sum spend for a condominium. The duplicators, the more expensive the property is, The higher. Houses in many regions of enormously expensive
Therefore, many observers ask the question: is there a risk of the market overheating? So, the Postbank in its latest study, "living Atlas 2020", the Hamburg Institute of international Economics (HWWI) developed.
A closer look in the living Atlas shows that housing prices are only 158 of 401 German districts and district-free cities is still relatively moderate. Just in the big cities, they fall, "but above average", the study finds.
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A General indicator for the real estate price level of the authors is according to the study, the ratio of purchase - to-rent level . The "living Atlas 2020" examines all German districts and district free cities, and answered the question: "How many average year property apartment cost to rent on average?"
The measure of the ratio of Rents to purchase prices of the so-called multiplier . He describes How many years a tenant could buy to pay the average rent, the total sum spend for a condominium.
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Rents and real estate prices in the same cycle, it remains constant. The prices for houses and apartments to rise rapidly, increasing the ratio and thus the duplicators. This means A tenant will have to spend an even larger multiple of its annual rent, to be able to real estate property buy.Large differences in Germany
in Total, has attracted the multiplier in Germany, as the study results. In 2018 he was 22.9, 2019 already at 24.0. This means a nationwide average of a tenant in 24 years, as much for his rent as the purchase of an average property would cost. A few years ago the reached national average of 17.5. Click here for a checklist for your individual real estate financing
Here in Germany there is a large gap: Munich reached in 2019, with a value of 37.2 – the city is considered to be particularly high-priced real estate location. Hamburg comes to 36, Frankfurt am Main achieved a 33.5.
In the calculations were the average purchase and rental prices of the year 2019. The authors of the study expected in the near future no large shifts in the ratio of prices in the coming months. To that extent, the Corona will have the Impact of crisis is not short-term.
The view on the long-term consequences look otherwise: Then "it could come, however, in economically the most affected regions to make adjustments," the Postbank. The Background of such a possible development: Breaking the disposable income of private households massively impacted the demand for housing.
The Postbank speaks deliberately in the form of possibility - because if the scenario occurs so is by no means certain. The market research Institute Empirica predicts, for example: "Overall, we expect in the long term, that is, in the best case, from the end of 2021, with a recovery" of the pandemic, stagnating purchase prices.overheating tendencies in the "Big Seven"?
But back to the "living Atlas 2020". Just in the seven largest German cities, the multiplier according to the study on a high level. Are meant to be Munich, Hamburg, Berlin, Frankfurt am Main, Düsseldorf, Köln and Stuttgart . Compared to 2018, the numbers in 2019 rose more. That may indicate some overheating towards the trends in the prices of a direct "price bubble" does not speak to the authors of the study, however.
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the Council of The authors of the study to all prospective buyers: you should just check in the expensive cities each investment carefully. "If the real estate prices to overtake the rent level far, this may be an indication that expected future value of profits, at least in part on the purchase prices have been pitched," says Postbank expert Grunwald.
This means that Future growth could be lower than property owners that were in the past years. With all the uncertainties, potential buyers must be clear: Even with the ground, there is no guaranteed duration of profits.
surf tip: house build or buy - these are the costs you need to roughthere are commented-FOCUS come-Online-readers will remember this article:
"If officials can afford in the expensive areas, no apartment, perhaps your former colleagues in the Bundestag of the social housing in the past, and these again! The way I see it, long-term housing shortage in a free state of law means the end of freedom!“
"house prices are too high. True. The linear movement Expect month-by-month factor is not enough to hire as a decision-making. It is missing that value is created - whether for children or for a later sale. It is the Liquidity overview is missing. Now, who can earn well within its working time to the house loan pay off, in the age with a reduced income and less costs. It is the consideration of increasing Rent is missing. That few people can ever acquire property is the core of the problem, not the comparison to today's Rent.“
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