The new refurbishment obligation could overwhelm many homeowners’ associations.
(Photo: dpa)
Frankfurt Sven Carstensen is CEO of Bulwiengesa, one of the largest independent consulting, analysis and valuation companies for the real estate industry in Germany. The expert, who also sits on the council of real estate experts of the central association ZIA, fears that the bottleneck in the housing market will continue to worsen.
In an interview with the Handelsblatt, Carstensen predicts a “price spiral for tenants”. He does not expect a rapid turnaround on the market for residential real estate – and sees only a certain stabilization of prices.
Read the entire interview here:
Mr. Carstensen, purchase prices on the German real estate market have been falling across the board since last summer. A house price index is now showing initial stabilization. Is this already the turning point in the market?
No, I certainly do not expect a turnaround with prices rising again: we are currently only experiencing a certain degree of stabilization because buyers assume that we have already done most of the interest rate hikes.
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