“The purchase prices are low, but the rents are higher than in previous years,” says Schick.
(Photo: IMAGO/Sabine Gudath)
Munich The broker Jürgen Michael Schick, who brokers residential and commercial buildings throughout Germany, sees buyers returning to the real estate market after months of standstill. They would seize the moment, Schick tells the Handelsblatt. He is also President of the German Real Estate Association (IVD).
“The purchase prices are low, but the rents are higher than in previous years,” he emphasizes. It is primarily commercial and private investors who are now showing interest. Institutional investors, on the other hand, held back.
Read the full interview here:
Mr Schick, the real estate boom is over and prices have fallen. There is a mood of crisis on the investment market. But you speak of an opportunity market. Why?
We broker residential and commercial buildings and felt a great deal of reluctance in view of the overall economic situation from December to March. While owner-occupiers continued to buy, buyers of rented facilities largely held back. The market practically stood still.
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