Image: APA/ROLAND SCHLAGER
Because of the already “dramatic situation” They are calling for the maximum loan limit to be raised from EUR 240,000 to EUR 350,000.
“We’ve roughly doubled prices since 2010, but the loan cap is only up 30 percent”, according to Wüstenrot’s general director, Susanne Riess-Hahn. It is almost impossible, especially for young families, to buy property, even though the “is the basis for a self-determined life”Riess-Hahn continued.
Home savings comeback
Furthermore, the announced loosening of the lending guidelines does not go far enough for the building societies. Additional improvements are needed, such as the full crediting of existing real estate as security. Currently, only 80 percent can be credited.
According to Christian Reingruber, CEO of s Bausparkasse, the prescribed equity and debt ratio “not too big of a problem”. However, there is an exception for young borrowers, taking into account the expected development of income “desirable”.
As the OÖN recently reported, according to Reingruber, building savings is currently experiencing a change “comeback”. The number of contracts concluded in January and February 2023 was 107,900 (up 75 percent year-on-year). Such growth rates have not been seen in the past ten years. Reingruber expects the trend to continue.
Have you heard? The OÖN have a business podcast – with business department head Dietmar Mascher. In the current episode, RLB-OÖ General Director Heinrich Schaller is a guest. Have a listen:
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