It's cheaper everywhere than in Germany: Why so few Germans own their own home. Expert names high construction and purchase costs as reasons for the low ownership rate.
Real estate transfer tax is another cost driver. In North Rhine-Westphalia this is 6.5 percent. For an apartment for 300,000 euros, buyers have to pay 19,500 euros in tax, reports Wirtschaftswoche. “Your single-family home could also be here’: An expert calls for federal funding programs.