Germans have revised their views on property

Germans have revised their views on property

Residents of Germany revised their views on rent during the financial crisis and increasingly bought their own property. In many ways, this trend contributed to favorable mortgage loans (4.3% per year now instead of 6% in 2010), foreign currency risk (fear of inflation) and the increase in rental rates (for example, over the last 3 years the cost of renting property in Berlin has increased by 19%, Frankfurt - 14%).

According to official data, in 2010 the owners of property in Germany were 43% of the population, in 2011 - already 46%. In 2012, this figure has continued to grow. Experts predict that the percentage of property owners in Germany will exceed the percentage of tenants, if this trend continues in the next 5 years.

It is noted that the pay on the mortgage loan is cheaper than renting payments. With regard to financial risks, the most concerned about rising inflation are older Germans.

The share of the housing in Germany is almost the lowest in Europe (except Switzerland - 39%). For example, figures in France and the UK are 58 and 69%, respectively.