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Spiegel: In 2023, the real estate market in Germany may be an “unimaginable catastrophe” KXan 36 Daily News

Date: December 3, 2023 Time: 07:35:25

According to him, by the end of 2022 the country already lacked some 700,000 apartments. At the same time, the article notes, half the indicated number of residential premises is being built in Germany per year, and “the cost of rent is already very high,” reports RIA Novosti.

According to journalists, the housing market, which had been tense even before, came under pressure mainly from a large influx of refugees. The increase in investment costs and the associated decrease in construction activity also had a negative impact.

The German government must reverse this situation, otherwise “we are waiting for an unimaginable catastrophe in the housing market,” the experts said.

Earlier it was reported that in Germany only half of the population have their own housing, the second half live in rented houses and apartments. According to opinion polls, about half of Germans under the age of 40 deliberately refuse to buy an apartment or a house, as they do not want to limit their freedom and mobility. It is also more profitable to shoot. According to the Cologne-based Institute for German Economics, buying a house only pays for itself with low interest rates, as it was in Germany until December last year.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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