display
Frankfurt / Main (dpa) - After an unbroken real estate boom even in the Corona crisis, economists are expecting a little less price pressure in the new year.
"The housing markets in Germany are surprisingly robust," said Stefan Mitropoulos, economist and real estate expert at Landesbank Hessen-Thüringen (Helaba).
"No break-in is to be expected, rather a breather."
The pandemic will probably dampen the price increase.
Instead of rates of increase of five to six percent per year, apartments and houses could become more expensive by four percent in 2021.
Many experts had expected the year-long real estate boom to come to an end with the corona crisis.
But the prices for apartments and houses continued to rise - despite the collapse of the German economy with millions of short-time workers and growing unemployment.
In the third quarter, real estate prices rose by 7.8 percent compared to the same period in the previous year, calculated the Federal Statistical Office.
display
The drivers of the boom remained intact, explains the Gewos Institute for Urban, Regional and Housing Research.
"These include the high demand for housing due to the demographics, the lack of building land and properties as well as the low interest rate paired with a lack of investment alternatives in uncertain times."
However, the pressure on the big cities should decrease as more people poured into the surrounding area and the immigration of foreign skilled workers in the pandemic declined.
Michael Voigtländer, real estate expert at the Institut der Deutschen Wirtschaft, assumes that prices will not rise quite as strongly in the new decade after the recent boom.
"Interest rates on real estate loans have already fallen sharply and the enormous upswing in the labor market cannot simply be repeated."
© dpa-infocom, dpa: 210102-99-873136 / 2
display
Federal Statistical Office on prices for residential real estate Q3 / 2020
Forecast Gewos