“The home builder is becoming a rare species,” said Robert Oberleitner, managing director of the housing association Neue Heimat and head of the non-profit organization in Upper Austria, at the second round of discussions at the Real Estate Day. Stefan Hutter from WSG, real estate trustee Roman Sonnberger and notaries Christoph Grumböck and Silke Höller-Prantner all agreed.
In view of the mixed situation with rising interest rates, tighter credit guidelines, high inflation and rising operating costs, home ownership is unaffordable for many, especially for young people, so the tenor. “There is currently instability in the real estate market, but there will be new stability,” said Hutter. The property market is declining, and now the focus is on hire purchase. Here, too, the financing hurdles fell away.
Sonnberger confirmed the change: “In the past two years, real estate and land have been bought at will, and that is now decreasing.” Real estate in good locations with good facilities, however, remained in demand.
The changed situation also affects notaries. The demand for purchase contracts is declining, and donations and handovers are now being made more frequently, said notary Höller-Prantner.
The OÖN real estate day to look up:
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Despite the changed signs, real estate prices should remain at a high level in the medium and long term, experts expect. In Steyr, square meter prices for condominiums are already partly comparable to those in downtown Vienna, Grumböck said.
Hutter and Oberleitner referred to the social housing designation in regional planning, which is still little known in the communities and could ease the situation on the market. The non-profit organizations wanted to promote this and draw the mayor’s attention to it in an information campaign.
Source: Nachrichten
