Many Germans still dream of owning their own house. But the loan amounts for the purchase have increased rapidly in recent years.
(Photo: gms)
Frankfurt The average German is considered to be conservative when it comes to money matters. Especially when it comes to owning your own home. But the real estate prices, which have been rising for years, are also leaving their mark on the financing of the dream property: A current study by the real estate financier Dr. Klein, who introduced the Lübeck company on Thursday, reveals how rapidly the loan amounts are now increasing. On average, builders and buyers borrow around twice as much money from the bank as they did ten years ago.
Germans are getting more and more into debt to buy real estate. According to the study, the loan amount for residential real estate climbed nationwide in a ten-year comparison by an average of 104 percent to 388,220 euros, compared to the previous year it rose by almost ten percent (plus 9.6 percent).
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