There are quite a few of those. Today, I received a developer project from a client for Hamburg, where purchase prices for condominiums are supposed to average 19,000€ per sqm. And there is sufficient demand for that. For ordinary people, it then becomes very difficult.But actually, with land prices starting at 1000€/sqm, there should be several who finance that much.
I received a developer project from a client today for Hamburg, where the purchase prices for condominiums are around €19,000 per sqm on average. And there is plenty of demand for that. For ordinary people, it then gets very tight.
Even though my perspective is distorted due to my work at a tax office whose district is among the top 5 in Germany, it must be noted that there are a lot of jobs in the income range between 100k and 300k. Furthermore, in Germany there are also several thousand people who live solely from their capital assets or severance payments. There is a lot of money in circulation with which things have to be done. I am responsible for about 3,000 taxpayers/families. Meanwhile, about 50% of them have a permanent taxable income of over 100k. I think that the ceiling has not yet been reached in many areas of Germany.
And as already written, it's about Then again, 800k would be too much for me as well. But actually, with land prices from 1000€/sqm, there should be several who finance that much. The only other alternative is support in the form of parents. Each contributing 100k from the parents to your own capital would already make the situation look significantly different. Otherwise, I can't explain how this is currently working in southern Germany.