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The pandemic is leaving no traces on the market for single and two-family houses and condominiums. Rents, however, remain stable. Even the Corona crisis cannot stop the price increase for private homes.

In Frankfurt property prices have risen considerably during the corona crisis in Germany. The price increase for single-family and two-family houses continues unchanged. According to the report, prices for single and two-family houses rose by an average of 8.6 percent in the third quarter compared with the same period of the previous year.

This means that properties increased even more than condominiums, which were also significantly more expensive at 5.5 percent. According to the company, which advises cities and municipalities on setting up rent indexes, prices for private property had already risen sharply in the second quarter.

The Corona crisis has also changed housing preferences: In the face of lockdowns and home offices, many people value more living space or outdoor space, a recent survey showed. The areas surrounding metropolises are also becoming more popular.

Quelle: handelsblatt.com               Foto: dpa

The first impression counts! Think of a well-groomed appearance and a polite manner so the seller can remember you well and you leave a positive impression.

Be truthful about yourself. At the latest when buying, details will be visible anyway.

Poor preparation can be a disadvantage. Find out as much as possible beforehand, because this way a seller or broker can determine your serious interest in the property.

Avoid too many emotions when viewing the property, even if you already like the property a lot. Do not let yourself look directly at the cards and remain factual. In a later purchase price negotiation, you will certainly benefit.

Refrain from making hasty commitments that you cannot keep later. Take enough time to think about your project.

Source: www.psd-nord.de                                                       Image: www.pixabay.com

Real estate prices could be leaving out in 2020 despite the continuing real estate boom. Although dropping prices on the market are still unlikely this year, the price level should now develop more slowly, according to building loan agency Interhyp.

Consumer’s tolerance limit defines the ultimate price level.

The real estate market should increasingly calm down and stabilise. The increase has been slowing since the third quarter of 2019.

Although this forecast cannot be generalised for every German city, it is still considered that at some stage price levels will be attained at a point where people will show caution.

Source: www.anlegen-in-immobilien.de             Picture: www.pixabay.com

Real Estate prices in German cities continue to grow – but more slowly than before. Especially the rents are rising with particular lower rate.

Rents in major German metropolises have risen by 2.5 percent.

According to the Bundesbank, the boom on the real estate market continued last year. However, prices rose less sharply – especially in the cities.

Overall, real estate prices in German cities rose by 6.1 percent in 2019 comparing to 8.5 percent in 2018. In the seven metropolises Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne, Munich and Stuttgart was a rise of 6.4 percent (after 9.7 percent in 2018).

Last year, accordingly to the Bundesbank, the real estate prices in those cities topped the level. Statically forecasted price deviations in metropolises were between 15 percent and 30 percent higher than expected.”

source: www.wiwo.de

picture: www.pixabay.com

Lower Saxony has to improve and re-adopt the rent brake three years after it comes into force. The Hanover District Court has declared the law to be ineffective. The reason is a simple formal error. According to the Ministry of Construction, the correction will take at least six months.

Farewell and justification must coincide

The formal error was noticed by the district court in Hanover, which had to deal with the lawsuit of a tenancy law agency: The point was that the agency wanted to force the former landlord of a couple to give up the rent of the previous tenants. The court dismissed this action because it considered the law to be ineffective due to a formal error (file number: 514 C 7045/19).

According to the Ministry of Construction, six other federal states have to improve the rental price brake, among other things because the reason for the regulation was published too late. For example, due to formal errors, courts in Hamburg and Munich, as well as in Stuttgart, declared the rental price brakes invalid and asked the state governments to correct the errors.

Rental price brake: Lower Saxony is checking where it will still apply in the future

Lower Saxony must now re-evaluate in which regions it wants to apply the rent brake, said the ministry spokesman. Many cities and municipalities such as Braunschweig, Hannover, Osnabrück und Wolfsburg are affected. Existing tenancies were also affected by the Lower Saxony Tenant Protection Ordinance: In the 19 cities and municipalities, the cap for rent increases was reduced from 20 to 15 percent within three years. Finally, the lock-up period for these cities and municipalities after the conversion of a rented apartment into a condominium was extended: a buyer should wait five years before he could have terminated the tenancy due to his own use or due to an obstacle to an appropriate economic exploitation of the property. The regular blocking period is three years.

source:www.haufe.de

picture: www.pixabay.com