Real estate: slump weighs on financial service provider Hypoport

New build apartments in Munich

The financial service provider Hypoport only had to collect the annual targets in September.

(Photo: dpa)

Dusseldorf The fall in demand for real estate as a result of higher interest rates and economic risks led to a business slump at the financial service provider Hypoport. After growth in the first half of the year, the operating figures in the financing business models show a significant decline in the third quarter, as the company announced on Monday.

Hypoport boss Ronald Slabke puts the key figures before current developments in the market for private real estate financing: “The German residential real estate market has not experienced such a deceleration in the last 25 years. In this respect, there is a lack of historical experience about the speed of the necessary rapprochement process.”

The transaction volume on Hypoport’s Europace credit platform, one of the major platforms for financing brokers alongside the competition from Interhyp, fell by almost a fifth to EUR 20 billion in the third quarter. The business for the savings banks brokered via the platform declined particularly sharply. From July to September, the transaction volume collapsed by 23 percent.

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