Released on 16.09. 2021
- Experts anticipate further increases in prices on the real estate market. Photo: Jörg Carstensen
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In the real estate market, prices have only known one direction for years: up. And after the end of the pandemic, this development could even accelerate.
Hamburg (dpa) – Could the Corona -Crisis will not affect the real estate market in Germany, so experts are now expecting catch-up effects and further rising prices.
According to a forecast by the Hamburg Gewos Institute for Urban, Regional and Residential Research, total real estate sales in the current year will increase by 6.3 percent to 311, 1 billion euros rise. In the previous record year 2020 sales were just under 293 billion euros.
The main drivers are residential real estate, the volume of which is expected to increase by 7.5 percent from the previous year to 237, growing 7 billion euros. This emerges from the current Gewos forecast, which is available to the German Press Agency. At the same time, the number of transactions will only increase slightly by 1.4 percent. The average price per purchase case continues to rise.
This is confirmed by Gewos expert Sebastian Wunsch with figures from 2020: “The price dynamics in the area of owner-occupied residential property has increased again in the wake of the corona pandemic. With , 8 percent for homes and 7.2 percent for condominiums, we have in 2020 the strongest price increases since our records began in the 80 years. ” The high volume of transactions has continued since the second half of the year 2020. “We registered a higher number of purchase cases for the last time in the year 1999.”
Market activity is increasingly shifting from the bought-out markets in the big cities to the suburbs and rural areas. The trend towards the surrounding area appears to be increasing in the light of the pandemic experiences, Wunsch said. One- and two-family houses are particularly in demand, for which Gewos an all-time high of 259. 300 Purchase cases registered.