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The local comparative rent is formed from the usual rents of the municipality (or a comparable municipality). The living space must be comparable in terms of type, size, equipment, quality and location. The period under consideration for the local comparable rent is four years. Increases due to increases in operating costs are not taken into account.
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After years of low interest rate policy, virtually nationwide rising property prices and excess demand, the property market in Germany is experiencing a number of clear counter-trends for the first time. The European Central Bank has raised the key interest rate to 0.5% in July 2022 - in the practice of real estate financing, interest rate increases of around 180% have been recorded compared to the previous year. The associated effects are already being felt in the industry and are affecting the behaviour of owners and prospective buyers in various ways. In this article, real estate agent Engel & Völkers would like to provide you with an overview of the current situation and clarify which maxims you can use to make the right decisions even after the interest rate turnaround on the real estate market.
The awareness surrounding environmentally friendly construction and social responsibility in the real estate sector is growing steadily. Sustainability is playing an increasingly vital role in property markets, heavily influencing private owners, investors, developers, and real estate brokerages alike. The driving factors behind this shift are clear: rising energy costs, statutory climate protection goals, and evolving expectations from buyers, tenants, and investors. Consequently, the industry is increasingly aligning itself with ESG criteria (Environmental, Social, and Governance) to ensure properties are eco-friendly, socially responsible, and economically resilient.
Contact
Engel & Völkers Germany
Vancouverstraße 2a
20457 Hamburg, Germany
Tel: +49 40 361310