The German property market is heading for a record. Low interest rates bring the housing market to hum. 2015 a new record was cracked at a total value of purchases and sales. Also for 2016, the trend seems to rise.
The low interest rates boost the real estate business in Germany is becoming stronger. Apartments, houses and plots from 200 to 210 billion euros in 2015 are likely to have changed hands, as is evident from estimates of the official peer review committees. “We break the first time the 200-billion-euro mark,” said Peter Ache, branch manager of the working group of the expert committees, the German press agency. There nationwide figures since 2007 are collected. Given further lower interest rates is to be expected that the sum of 2016 continues to increase.
“Since 2010, it goes straight up, 2015 has even increased a bit stronger.” Not everyone expects now still buying, Ache said. “In the high-price segment now I would not buy anything but wait.” The risk of a property bubble see the committees is not, however, a further rise in prices they judge skeptical. “We are watching with interest and eager to see what happens when interest rates rise. Keep then the property its value?”
Prices also drag on the country
The working group wins its findings of the purchase contracts. The trend therefore cities include further Dusseldorf, Leipzig, Munich, Frankfurt, Hamburg and Berlin. In the environment of these cities, prices rose significantly it said. In cities like Hildesheim and Holzminden also increases now be observed. “Even in rural areas, we see that the prices are rising. The people in the cities any more.”
Next expensive has in the past year and farmland as Ache said. In some places, it was hardly more favorable than commercial land. “Since they can better milk their cows on a commercial space and have the same full development.” Many farmers put under pressure because the rents rise accordingly. The highlight of the increase in prices of farmland could be achieved, however, from the perspective of the working group in the West. In East Germany more bonuses are possible
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