Financial worries in Bümmerstede: Homeowner on the edge of the ruin!

Around 200 house residents in the Bümmerstede district in Oldenburg face considerable financial challenges. The heritage law contracts, under which the houses were built, expire in about 25 years. From 1950, these housing estates were built for refugees and displaced persons after the Second World War. The plots are up to 1,600 square meters in size, with contracts that originally had a term of 99 years.

Current reviews of the expert committee have set the property value at 325 euros per square meter. For a 1,000 square meter property, this results in a value of 325,000 euros. The annual lease is 2%, which corresponds to 6,300 euros per year (541 euros per month). In addition, there is renovation costs of 50,000 euros that cause a monthly loan burden of 216 euros (2,595 euros annually). This leads to a total monthly load of 757 euros for such a property.

Financial effects of sales

The sale of a house, the assumed value of which is 100,000 euros, would result in additional costs. With an interest rate of 4.19% and a repayment of 1%, this would be 5,190 euros per year (432 euros per month). Thus, the entire monthly burden rose to 1,189 euros, exclusive additional costs. With a 1,600 square meter property, the monthly loads would even increase to 1,514 euros.

The sale of the property to those entitled to inheritance is particularly complicated. The Federal Real Estate Agency (BIMA) requires the recovery to full market value. Ralf Jokic, 2nd Chairman of the Association of Oldenburg-Camerand, deals with the BIMA to negotiate future lease contracts. The BIMA considers the current inheritance interest regulation, which is between 5 and 30 euros per year, as inappropriate. She argues that the hereditary builders have benefited from a low hereditary construction interest for decades, which she has enabled to provide financially.

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