The real estate market in the Corona crisis
Thomas Filor about the Real Estate Market in the Corona Crisis
How does the Corona crisis affect the real estate market? Thomas Filor presents current studies that give hope.
Magdeburg, March 25th, 2020. “As is well known, property prices in Germany have exploded in recent years. Many people who have not yet benefited from the real estate boom are now hoping that the Corona crisis could push prices down. However, there is still no reliable data on this and there is currently no reason to panic for property owners”, reassures real estate expert Thomas Filor from Magdeburg.
As every year, Postbank recently completed its current residential report, which however contains data that was collected before the outbreak of the Corona crisis. The residential report shows that property prices have risen in 90 percent of all German counties and urban districts in the past twelve months. According to this, the plus in 2019 was 9.3 percent (adjusted for inflation).
“Of course, it is very likely that the demand for housing could decrease in the coming weeks. The reasons for this are currently completely logistical in nature. This means that moving within Germany, but also moving from abroad, is currently hardly feasible due to the border closings. Investor interest should not decline, however. Potential buyers will probably only postpone their purchase plans, but not put them on hold”, emphasizes real estate expert Thomas Filor from Magdeburg.
Furthermore, the federal government had already announced that it would provide help, as Federal Minister for Economic Affairs Peter Altmaier (CDU) had emphasized several times. “Ultimately, it will only be in the phase of economic recovery that we will see how property prices will develop and to what extent the corona crisis will also affect the commercial banks that issue real estate loans. An increasing housing supply is still extremely important. The fact is that the Germans trust in concrete gold – and that could keep property prices high even in Corona times. In addition, real estate is known to be a safe investment, even in the event of turbulence on the financial market”, concludes real estate expert Thomas Filor from Magdeburg.
This press release was published on the openPR press portal.
Thomas Filor
Lennéstraße 11
39112 Magdeburg
Phone: 0391 – 53 64 5-400
Web: http://www.thomas-filor-thomasfilor.blogspot.de
Translated from German
Press Release from 25/03/2020 – 11:26 | openPR.de
Author: Thomas Filor