Projects were canceled or postponed and interest rates plummeted! After a while of not doing anything at all with new construction projects, the real estate market is now picking up again. It is striking that those who want to buy an apartment currently prefer to look at existing real estate. A real estate expert analyzes the situation.
Banks have registered increased interest and more deals in the property market in recent weeks, where the slump in demand for new construction projects has now likely bottomed out.
“There is more demand for real estate again,” confirms Mario Zoidl, “but the trend is more towards second-hand real estate, because it is cheaper and therefore more affordable.”
What has increased interest in? The spokesperson for the property managers is thinking of apartments in urban areas that are between 40 and 50 years old and have already undergone general renovation.
“So you shouldn’t expect any surprises in the coming years,” explains Zoidl, who also sees a clear trend among interested parties: “Many of those who are watching now are not technically clumsy and also have people in the family who can lend a hand. . “Previously occupied properties often need renovation before they move in, whether it’s updating the bathroom or kitchen.
In addition to the growing interest, there are also signs of an increasing supply of apartments that are in high demand: ‘The investors are gone.’ The increased interest rates have caused them to increasingly switch to other forms of investing.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
