The majority of property buyers and prospective buyers describe the prices as off-putting (65%) and disconnected from the true value (44%). In addition, 51 percent of those surveyed consider buying a property in their region to be unaffordable or hardly affordable at all. This is the result of the Interhyp affordability study with 1,000 respondents. "Many of those surveyed have the feeling that prices are rising 'incessantly into the immeasurable'," says Jörg Utecht, CEO of the Interhyp Group.
The surveyed property buyers or prospective property buyers attribute the fact that they cannot or can hardly afford to buy a property to the high property prices in the region (49%). However, the fact that purchase prices are perceived as too high in relation to income or assets (45%) also appears to play a role. As a result, 36% want to make compromises when buying a property, around 1/3 of respondents want to delay buying a property and around 7% of respondents have given up their dream of buying a property.
However, according to Interhyp, the study also shows that the estimates are often guesses. For example, 2/3 of respondents do not know how high the actual mortgage costs would be for them and only four out of ten respondents (41 percent) have already calculated their loan costs. According to Jörg Utecht, however, prospective property buyers should do this and not be discouraged. For around ¼ of those surveyed, however, an inheritance, a gift or financial support from their parents is a prerequisite for buying a property.
Source and further information: interhyp.de
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