ᐅ The situation in the real estate market... unbelievable
Created on: 12 Nov 2019 18:29
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Reinhard84.2
Hello everyone,
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
Altai schrieb:
My parents supported me as well – just the additional costs of purchasing are a huge amount, especially when a real estate agent is involved. I find it quite dismissive to write as if none of that matters just because family is helping.Don’t worry, that wasn’t meant to be dismissive; anyone else would take the money as well. I’m just wondering whether it can be sustainable long term that home ownership is increasingly less a matter of personal income and saving discipline, and more dependent on the financial means of (grand)parents. There was an interesting article on this trend recently in WELT.
There’s probably no doubt that gifted or inherited money is generally spent more easily than money that has been saved personally.
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Mottenhausen18 Nov 2019 15:16Nordlys schrieb:
Oh? That's not true at all?It depends on your perspective.
Although I was born in the former East Germany, I grew up in Braunschweig until school age... so I see myself more as an all-German. And the problem is: unfortunately, all those stereotypes do apply to a handful of people. (And as long as these extreme examples are repeatedly picked up by the biased media, I’ll keep complaining quietly and voting the wrong way. Well, surely one should still be allowed to say that.)
Jean-Marc schrieb:
There was a recent interesting article in Die Welt that confirmed this trend. ...and I have read (in essence) that the current generation of buyers in their mid-30s wants to own what their parents built up over their lifetime but doesn’t want to wait another 25 years for it.
If you then want to transfer a comparable detached house from the countryside to the city, the wish and reality simply no longer match. I don’t see any fundamental problem here—either make compromises or move away; it worked with university back then too.
Dr Hix schrieb:
that the current generation of buyers in their mid-30s wants to own what their parents worked for over the course of their lives,Cf. Gitte Haenning: "I Want It All"https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
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hampshire19 Nov 2019 07:18Jean-Marc schrieb:
I also wonder whether it can continue long-term that purchasing residential property is no longer primarily a matter of individual income and savings discipline, but increasingly depends on the financial capabilities of the (grand)parents.This question can clearly be answered with “yes.” It remains the case that parents want their children to have better opportunities and therefore aim to give them the best possible start. After “prosperous years” comes an inheritance generation; after “lean years” a building-up generation. Achieving something through personal discipline is commendable. Preserving and passing on wealth over many generations is also impressive, though it is not an individual accomplishment.