Real estate in the district of Ebersberg: prices are rising – so are interest rates
Created: 03/31/2022, 08:37
By: Josef Ametsbichler
Two salaries are usually not enough to own a house in the Ebersberg district.
© Jens Büttner/dpa
If you don't have anything, you won't get anything - and if you're considering buying a property, you should calculate carefully.
These two conclusions result from an assessment by the district savings bank and its real estate subsidiary LBS for the district of Ebersberg.
District
– Galloping real estate prices in the region are well known.
In the meantime, however, such properties are not affordable even for most dual-income households.
"You can't get a terraced house in Poing for less than one million euros," said savings bank broker Robert Swatosch at a press conference yesterday.
It needs an inheritance or a real estate sale in return as a flywheel.
Anyone who lives in a three- or four-room apartment for rent can usually only consider a smaller apartment as an investment property in order to benefit from the real estate market.
The new building market in the district of Ebersberg in the 2022 market mirror of Sparkassen-Immo.
The lower end of the price range includes rural communities such as Bavaria, while it is most expensive near the city, such as in Vaterstetten or Poing.
© Sparkassen-Immo
Anyone who, like most people, needs a loan for this should calculate up to the last installment, despite the fact that real estate prices continue to rise - 13 percent across Bavaria in 2021 alone, advise the Sparkasse specialists.
In view of the global situation, interest rates have risen noticeably in recent weeks, according to savings bank board member Andreas Frühschütz: "We are still at a very low level, but it shows that the way up can go very quickly." An interest rate increase of one Percentage point for a loan of more than 300,000 euros with a monthly repayment of 1,500 euros, for example, means an additional burden of 35,000 euros – and two years more repayment time.
The gap between rental price and purchase price level is very wide
Counterfinancing such a loan with rental income is not a general model for success in the Ebersberg district, according to broker Swatosch: "The gap between rental price and purchase price level is very wide." That depresses the return.
"Jumping blindly on this train is not entirely without risk." And even the most flourishing housing market is subject to cycles in which things sometimes go down.
Not yet in sight in the district, says banker Fühschütz.
However, he expects that the sanctions against Russia could put pressure on the labor market and that higher interest rates could lead to less interest in buying.
"Indications" for a flattening rise in real estate prices in the region as well.
Supply does not meet demand
On the other hand, the fact that the supply has not been able to meet the demand for years speaks against it;
According to Sparkasse, the bottleneck: the designation of building land.
This may explain why more and more money is flowing into the purchase and sale of existing residential and commercial properties in the Ebersberg district.
According to the Sparkasse, annual sales increased by 34 percent from 2017 to 2021, from 693 to 930 million euros.
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