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Construction boom on Sylt over: prices continue to rise
Discover the latest developments on Sylt: Building permits have fallen by 17 percent - is there now a risk of a price increase when buying a house? Experts warn of rising real estate prices.
Construction boom on Sylt over: prices continue to rise
The construction crisis has now also reached the noble island of Sylt, as building permits have fallen by 17 percent. Experts see this decline as a sign that the lack of new construction will continue to increase house prices on the island.
Real estate prices on Sylt are already extremely high, especially in places like Kampen, where a single-family home on a mudflat and dune property costs at least 16 million euros. Double and terraced houses are available for 4.4 to 10 million euros.
The responsible district building authority in Husum, Schleswig-Holstein, approved the construction of only 194 houses and apartments on Sylt last year, which corresponds to a decrease of 17 percent compared to the previous year. Compared to 2021, the number even fell by around 21 percent.
Island real estate agent Peter Peters expresses concerns about this development as the shortage of supply could lead to rising property prices. This applies to second homes, holiday apartments and permanent residences on the island.
The decline in building permits on Sylt reflects a general trend that can also be observed on the mainland. A mix of high construction costs, expensive building materials, increased interest rates and high energy standards means that less is being built, while demand for housing remains high.