In the end, negotiating real estate prices is often a matter of psychology.
(Photo: imago/CHROMORANGE)
Dusseldorf The official confirmation came shortly before Christmas. Compared to the previous quarter, apartments and one- and two-family houses were on average 0.4 percent cheaper in the third quarter, according to the Federal Statistical Office. This ended a year-long upward trend.
It remains to be seen how strong the decline will be overall or whether it will end up moving sideways. Experts at DZ Bank are assuming a price drop of up to ten percent overall. The Association of Pfandbrief Banks, on the other hand, sees only a small dip.
In any case, one thing is already clear: the market has turned and sellers can no longer ask any price for their properties. Again and again, experts recommend interested parties to make a “cheeky offer” and see whether the seller reacts. The Handelsblatt has compiled the strategies used by sellers in this market phase to sell their properties at the highest possible price.
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