Due to the sharp rise in interest rates, many interested parties have refrained from buying or building a house.
(Photo: dpa)
Dusseldorf After a miserable day for German real estate shares due to LEG’s dividend freeze, the financial service provider Hypoport also published bad figures in the evening. The S-Dax company, which includes the construction financing broker and the financing platform Europace, expects difficult times in the current year after a decline in business in the fourth quarter.
As the company announced, sales are likely to fall by up to ten percent in 2023. In terms of earnings before interest and taxes (EBIT), Hypoport even expects a drop of up to 30 percent. As already announced in the Handelsblatt interview with Ronald Slabke, the company dares to make a forecast again, but with little optimism.
In the early summer of last year, Hypoport shocked the markets by suspending the forecast, followed by significant price losses. The company’s shares, which had already lost more than four percent in regular Thursday trading, fell almost five percent after the figures were announced.
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