Commercial housing developers and brokers in Germany are facing numerous challenges, including increased interest rates, stricter loan regulations, and price increases. This has led to a decline in new construction and falling demand for apartments. According to Gollenz, two-thirds of new housing construction and renovations to new building standards are carried out by their members, who require a legal framework that does not hinder their work.
The industry is also facing issues such as the parking space requirement, where buyers of apartments are forced to purchase parking spaces even if they do not own a car. Additionally, the debt repayment rate regulation in Germany currently allows a maximum of 60 percent of household income for repayment, compared to the 40 percent limit imposed by the KIM regulation. This is making it more difficult for developers and brokers to make housing more affordable for their customers.
Real estate agents are also facing difficulties due to changes such as the ordering principle where the agent who hires them pays for their services. There have been calls for an immediate withdrawal of this principle for rental contracts as it is causing many agents to leave the industry. Despite this, the real estate association continues to present housing construction concepts but feels ignored by politicians leading to a need to increase pressure for change.
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