The corona crisis caused a severe economic slump.
But real estate prices are rising rapidly.
Cities like Göttingen in particular have to struggle with this.
In the third quarter of 2020, prices for
condominiums
and for one and two-family houses were an average of 7.8 percent higher than in the same period of the previous year.
The last time there was such an increase was in the fourth quarter of 2016.
The prices for housing * rose especially in medium-sized cities such as Göttingen.
Kassel - The
Corona crisis
has paralyzed public life, many retailers, restaurants, service companies and cultural workers are struggling with huge slumps in sales due to the lockdown and the associated work restrictions.
The economy in Germany will shrink by around 5.1 percent in 2020, as the economic experts estimate.
Many employees have significantly less money in their wallets at the beginning of 2021.
But the real estate market is unaffected by the precarious economic situation.
The
prices for residential real estate have been rising
steadily for months.
The Federal Statistical Office issued a worrying report at the end of December 2020.
Accordingly, the prices for single and two-family houses in the third quarter of 2020 are on average 7.8 percent higher than in the third quarter of 2019.
The price increase for housing had already become apparent in cities like Offenbach.
But now it's official.
There has not been such a high increase in property prices in Germany since the fourth quarter of 2016.
At that time, prices rose by an average of 8.4 percent compared to the same period last year.
Real estate prices are skyrocketing despite Corona: It is becoming more expensive in medium-sized cities
If home prices rose in the past, especially in large cities, in the
Corona year 2020 condominiums in medium-sized cities such as Göttingen recorded
the greatest increase in value of
10.2 percent.
The prices for single- or two-family houses in cities with more than 100,000 inhabitants rose by 8.3 percent.
authority |
Federal Statistical Office (StBA) |
website |
destatis.de |
Seat |
Wiesbaden (Hesse) |
founding |
January 21, 1948 |
The strongest increase in the value of houses was in densely populated areas in rural areas with 9.7 percent.
In contrast, condominiums there were “only” 7.1 percent more expensive.
In the seven largest metropolitan regions in Germany, i.e. Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf, prices for residential buildings rose by 8.9 percent in 2020 and for condominiums by 7.3 percent.
+
In the Corona year 2020, prices for private homes in Germany have not risen since 2016.
(Symbol image)
© Hauke-Christian Dittrich
Real estate prices are skyrocketing despite Corona
However, fleeing to the sparsely populated country did not help apartment hunters in 2020 either.
In the third quarter of 2020, prices for single and two-family houses in sparsely populated rural districts rose by 8.4 percent and for condominiums by 8.1 percent.
The prices for residential real estate in the 3rd quarter of 2020 were on average 7.8% higher than in the same quarter of the previous year.
Residential real estate thus continued to become significantly more expensive during the corona pandemic, both in the city and in the countryside.
https://t.co/06SgaNPm6v pic.twitter.com/rvCVXlJCTM
- Federal Statistical Office (@destatis) December 28, 2020
According to "spiegel.de", the reason for the sharp rise in real estate prices is the low construction interest rates.
The experts do not see any improvement for the current year.
Increased by the
Corona crisis
, property prices in the surrounding areas of major cities are expected to rise sharply in 2021.
Despite Corona, living is becoming more and more expensive - also in 2021
"The surrounding area is the winner of the
pandemic,
" says Carolin Wandzik, managing director of the Hamburg Gewos Institute, to the dpa.
This price development could have serious effects on the future population structure in large cities and bacon belts, the experts estimate in relation to the “Spiegel”.
According to this, the population could be even more divided: young people and people living alone live in cities, while large families live in the suburbs.
"The surrounding area is attracting even more families who need space, and smaller households, singles and young people dominate the cities", Michael Voigtländer from the Institute of German Economy is quoted by "spiegel.de".
(Philipp Zettler)
* hna.de is part of the nationwide Ippen-Digital editorial network
List of rubric lists: © Hauke-Christian Dittrich