Corona has not made it easier for real estate buyers. Many need more space, but the prices in the cities continue to rise – often in the surrounding areas as well.
According to experts, anyone looking for an apartment in the metropolis must expect prices to continue to rise. In the eight largest German cities, there are no signs of a turnaround, as representatives of the respective official expert committees described.
“The party goes on,” said Berlin committee chairman Reiner Rössler. Representatives from Hamburg, Munich, Cologne, Frankfurt, Düsseldorf, Stuttgart and Leipzig also reported price increases. However, there is no real estate bubble on the housing market.
In many places, not enough apartments have been built to compensate for the influx of people over the past decade. “Demand is unbroken, supply is scarce, prices are rising,” summarized the Vice Chair of the Hamburg Expert Committee, Sonja Andresen. “We don’t have a corona kink down.” The prices in the simple locations approached those of the middle ones. Many people are therefore looking for apartments and houses on the outskirts and in the surrounding area.
Home office is changing requirements
“I wouldn’t buy more in Frankfurt, but yes in the surrounding area,” recommended the Frankfurt committee chairman Michael Debus at the conference of the Society for Geodesy, Geoinformation and Land Management. In the city, the market has run too hot, but will probably bring further price increases.
With the change to the home office, people are willing to accept longer commutes with commutes of up to one and a half hours, said Andresen. At the same time, many people in the city in Munich tried to move into larger apartments themselves, said the local office manager Albert Fittkau. “That’s why the demand is still there.”
Expert committees evaluate the notarial purchase contracts every year and determine, among other things, standard land values. According to their data, in 2020 more money had flowed into real estate nationwide than ever before, at 310 billion euros.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
