Frankfurt Erdal Balci has given up. For years, the family man looked for a new house in the Bremen area – in vain. Now he has ended the search because of the increased interest rates without success. He probably would have had to pay less than expected. The reason: Although interest rates make financing a purchase significantly more expensive, they are now also putting a lot of pressure on asking prices. For the first time in more than ten years, purchase prices are falling across the board in Germany.
This shakes an old certainty: that real estate will automatically become more and more valuable. Prices are currently going down and have not bottomed out yet. The question of where the market is headed in the long term is all the more important for interested parties and buyers: where is it getting more expensive? And where cheaper?
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