Without an inheritance, a gift or a personal loan, many owners would not have been able to afford their property. This is the conclusion of a survey conducted by Statista on behalf of Interhyp Group in Germany and Austria with 3,353 property owners. Young owners are particularly affected by this problem.
In the survey, one-third of respondents say they received support from parents or friends when buying real estate (29 percent). Heirs in particular say they would not have been able to buy without the inheritance (36 percent). A good quarter of those receiving gifts (25 percent) and private borrowers (23 percent) would also not have become owners without private support. In addition, just under one-third of those with family support would have postponed buying the property without financial contributions (26 percent). The differences in the age groups are also serious: Whereas 27 percent of those under 39 were dependent on private support, only 17 percent of buyers over 50 were.
One reason why young buyers in particular have to call on private support is that interest rates for real estate loans are falling. So the savings phase is very likely to be more difficult for them than for older buyers who got good interest rates when they saved. On the other hand, prices for real estate in particularly sought-after locations are rising.
Source: interhyp.de
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