The Germans bought these properties in 2022

New construction of apartments

Only a few Germans decided to buy a new building last year.

(Photo: dpa)

Dusseldorf In Germany there is not enough living space and homebuyers are increasingly failing to provide support for new builds. As figures from Interhyp, the largest mortgage broker, show, not only did the volume of mortgage loans fall significantly overall in the past year. The type of property purchased has also shifted drastically.

The share of financing for new buildings and own construction projects declined in particular. According to Interhyp, the purchase of new buildings fell from 15 to just five percent, and for own construction projects it fell from 15 to ten percent. In other words: the share of new construction in the total financing volume has fallen from 30 to 15 percent.

Interhyp CEO Jörg Utecht makes it clear: “The analysis shows that buyers are very willing to compromise. Because that’s the only way they can still fulfill their dream of owning their own home.” However, the political goal of 400,000 new apartments per year is likely to be even more distant.

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