Rising interest rates, bafin requirements, climate protection: buying a house is becoming noticeably riskier

Rising interest rates, bafin requirements, climate protection: buying a house is becoming noticeably riskier

This real estate market in Germany runs hotter and hotter, the hurdles in favor of buyers are getting higher. Where the biggest pitfalls lurk.

Munich – Homeowners and those who want to be, stand still even more difficult times in advance. A clear harbinger is that the federal government on 24. January suspended with immediate effect the K favoritism in favor of so-called efficiency houses and renovations*.

Thousands non-public households, in contrast to secondary developers, to do be now around their building or reorganization projects anxiously. Although the traffic light coalition from SPD*, liberals* and Greens* looks now for a problem removal, a new transmission is to create substitution in favor of the Favorbezeugung. But the exact design is still uncertain. Notwithstanding that the one is not the only dilemma in favor of homebuyers. This Handelsblatt lists a total of six risks that need to be weighed up.

Real estate acquisition: Rising prices

This pattern of real estate becoming more and more expensive continues, with no finale in sight. Thus, according to the Federal Statistical Office, prices in favor of apartments and houses in the third quarter of 2021 increased by twelve v. H..

One consequence of this is that the ratio of rent to purchase price is drifting further and further apart. This can be anchored to the so-called multiplier: how many average annual rents one has to raise to be able to buy an apartment? In Munich, this figure is 47, which means that a real estate buyer in the state capital will have to wait 47 years until the investment is compensated by the rental income – without taking into account maintenance costs and taxes. In other large cities, this figure is at least still within 35.

Real estate acquisition: Unclear promotion situation

To the rising purchase prices it is added that the calculations become ever more difficult for this purpose. One reason is the unclear energetic favoring, which makes up a huge sum. According to K, only in the period since November 2021 in the framework of that promotional bank applications were received in the amount of more than 20 billion euros of funding volume. It is currently unclear which will become of the applications that have not yet been approved. Is examined now whether the promotion bank could make interest-reduced loans available instead of the repayment or investment subsidy.

This promotion stop makes put together real estate purchase more expensive. This chief executive of the Federal Association of German Banks (BdB), Christian Ossig said: "mine Wenigkeit can not give you an accurate prediction away, how the real estate financing in favor of private customers will become more expensive. Notwithstanding this, it will become more expensive, and this will be noticeable."

Real estate purchase: Rising construction interest rates make loans more expensive

Together come beyond Immobilienkaufer higher credit costs to, the times of historically low building interest rates are past. In view of interest rate policy, inflation and economic development, Interhyp believes that interest rates are likely to rise by several tenths of a percentage point for real estate loans in the course of 2022.

Verdongeln foretaste there was in January, in which the interest rates in favor of ten-year loans from a v. H. in addition around 1.15 v. H. added. Along with financing of around 500.000 euros, this can add up to a five-digit sum over ten years.

Real estate purchase: Bafin prescribes banks larger safety buffer

Real estate loans are likely to become more expensive secondarily because Bafin has stipulated that banks must deposit more money as collateral in favor of their loans as of February 2023. In which measurement the interest in the course of this will rise, is according to Interhyp in contrast unprotected.

In addition, it could become more difficult to get sheer compound credit. For the leaders advise banks, insurance companies and other lenders regarding those current developments in the real estate market to be "especially cautious" in the context of that new lending. This means that secondarily the demands on that equity are likely to increase. Interested parties without sufficient funds of their own could be rejected by banks.

Real estate: protecting the climate-measures introduce new pressures

The EU commission wants to become climaticneutral in Europe as long as until 2050. This real estate sector, that in favor of about 40 v. H. of energy consumption, a key sector is to be addressed here. If it goes after capital of Belgium, real estate owners are to reorganize in favor of the one new climatic goal their houses.

With it to do its itself secondary owner in the coming years out high price put. Because the distribution of those burdens between tenants, landlords and the state is still unresolved. It perhaps that secondary owners are being overcharged monetarily.

Real estate: Rising commodity prices potentiate construction costs

The significant increase in the price of important building materials is driving up construction costs, in addition to the ongoing shortage of skilled workers. On average, in 2021, prices were in favor of lumber by 61.4 v. H. via the previous year, in the context of concrete steel it was 53.2 v. H.. "What sharp increases in the price of construction materials led to the price increase in new residential construction last year (on average for the year 2021) of 9.1 v. H.", explained Tim-Oliver Muller, chief executive of the German Construction Industry Association, the Predicament.

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