Dusseldorf In the early 2000s, building societies outdid each other with their TV commercials and slogans. With success: building savings was on everyone’s lips and the demand for corresponding contracts was at an all-time high. In times of rising building interest rates, such offers are becoming more popular again.
According to investment reporter Markus Hinterberger, demand has risen to an old record level: “In the first quarter of 2023 alone, almost 28,000 new building savings contracts were added. The last time there were this many was in the first quarter of 2004.”
The reason for this development is not only the current market and interest rate environment, as Hinterberger explains in the new episode of Handelsblatt Today. New requirements such as heating replacement also increased consumer interest in building savings contracts.
However, the conclusion of such a contract should be carefully considered, emphasizes Hinterberger. This investment product is not worthwhile for everyone. Because interest rate security would not be available for free.
Also: On Thursday the ECB will decide again on the level of interest rates. A further increase could hurt the markets, as financial correspondent Frank Wiebe explains in the podcast.
More: These are the advantages and disadvantages of a building savings contract
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