Suche
Mein Konto
Buying real estate is affordable again: A look at the best regions!
The affordability index shows how Garmisch-Partenkirchen compares to other regions in the real estate market. Find out about current developments and prospects for potential buyers.
Buying real estate is affordable again: A look at the best regions!
More and more people in Cologne are wondering whether the dream of owning their own home is still achievable. The answer to that could be positive. According to the latest findings from Interhyp, which together with IW Cologne have created an affordability index for private residential properties, residential properties are again as affordable as they were before the interest rate turnaround. Interhyp CEO Jörg Utec emphasizes that often only gut feeling determines the affordability of residential properties, but the numbers tell a different story. Real estate newspaper reports a positive trend that gives hope.
However, affordability varies greatly depending on location. Metropolitan regions and neighboring districts often have high hurdles for purchasing real estate. Elsewhere, for example in medium-sized cities and rural regions, the chances are much better. Affordable properties can be found particularly in structurally weaker regions in eastern and northern Germany. On the other hand, there are cities like Starnberg or Garmisch-Partenkirchen, whose affordability is rated as extremely low, with values around 54 points. Interhyp has created an excellent overview that shows where buying a property is still realistic.
A look at the numbers
To illustrate how affordability presents itself, here is an overview of the top 5 most affordable regions:
| Place | region | Points |
|---|---|---|
| 1 | Holzminden | 174 |
| 2 | Anhalt-Bitterfeld | 170 |
| 3 | Salzlandkreis | 170 |
| 4 | Salzgitter | 170 |
| 5 | Schmalkalden-Meiningen | 166 |
In urban areas the situation looks different. Affordability in Germany's top 7 metropolises is as follows:
| City | Points |
|---|---|
| Hamburg | 90 |
| Berlin | 87 |
| Frankfurt am Main | 83 |
| Cologne | 82 |
| Stuttgart | 80 |
| Dusseldorf | 70 |
| Munich | 59 |
Another interesting aspect is that 45% of households live in large German cities with more than 100,000 inhabitants or their surrounding areas. It is therefore advisable to expand the search radius beyond the preferred region in order to find affordable properties, according to the experts at Interhyp. a href=”https://www.interhyp.de/erwickeligkeitsindex-bezahlbaren-immobilien/” class=”source_2″>Interhyp recommends not just looking at the nearby cities.
What do the construction prices say?
Another dimension that buyers should consider is construction prices. The Federal Statistical Office makes it clear that the term “construction cost index” is often incorrectly used to mean the “construction price index”. The construction price index reflects the development of producer sales prices in the construction industry and shows what buyers actually have to pay for residential construction projects. This does not include changes in the productivity and profit margins of construction companies. Destatis highlights the importance of understanding these differences in order to plan properly.
Overall, the numbers remain exciting and there is definitely hope for home buyers in the Cologne area. With the right eye for affordability and a smart approach to property hunting, the chances of making your dream home a reality are not bad. There's something going on!