Construction financing - How will it change in the future?

As I said, it also depends on the amount of the installment. If you now have cold rents of 12-14 EUR/m², a typical family of four quickly pays 1500 EUR/month and more. You can handle quite a bit with that kind of annuity (even at 100%).

I know, I’m repeating myself, but: In areas where you have to rent for 12-14€ cold per square meter, you do not repay a property with an annuity of 18k, and certainly not 100% financed. You’re talking about cold rents as they are now common in Wiesbaden or Frankfurt. But a semi-detached house there also easily costs 650-700k+. With an 18k annuity, you will be paying until you’re black in the face.

No, however, I can only speak about the accuracy regarding Berlin. And there, 12-14 EUR for new rentals (and currently also new buildings younger than 2014, due to the rent cap) have definitely been reached. On the other hand, you can still get existing properties for around 500-600 THOUSAND EUR. In outer districts with renovation backlog, sometimes something for 450 THOUSAND EUR. It is true that the average rent price is much lower, but that doesn't help the young family who simply needs to expand their living space or otherwise remain four people in a 2.5-room apartment with 60 m²... So if you are currently searching, you quickly come to the conclusion that you can just as well finance the larger living space. Equivalent to the amount of net cold rent. To what extent the rent cap actually provides relief here is debatable and probably still to be observed.

So if you are currently looking, you quickly come to the conclusion that you can just as well finance the larger living space. Up to the amount of the net cold rent.

Yep, this applies to almost all cities in Germany, except in the top locations. Interest rates have fallen faster in recent years than prices have risen. That’s why it usually works. And then better a 90% purchase property (including forced savings) than a 95% rental property, where you end up at exactly €0 saved assets at retirement with the same burden.

except in the top locations.

The top locations are then rather around 18-25 EUR/m², with no upper limit. That's a whole different story.

If I had to move, I would also buy. Currently, I only pay €6/sqm, so buying simply doesn't make sense - with the stupid additional costs. If I were to look for something equivalent now (rather unlikely), I would be at €10/sqm.

Equity would be available in an "emergency" - so I'm relaxed.

I currently see the same among colleagues. Mid-30s, A9 and A13 and €0 equity because everything has been consumed, and now they want €550,000 from the bank for a house and are struggling with the repayments.
When my wife and I were in our mid-30s, we no longer had €140,000 in debt and we had an A9 and A10, and in our opinion, we didn't forgo anything. Attitudes towards life can be so different.

Exactly that – I could imagine – won’t change. Banks will quite likely continue to put money on the table in these constellations. At least if civil servant salary is in the background. We financed in early summer 2018, with A9, trainee salary, and equity that was enough for incidentals. It was completely trouble-free. I claim this is due to the income security behind it. Now in our late 20s with A11 and A13, I think we'll get through quite comfortably...

For those not employed in the public sector, there will perhaps be a bit more caution now...