The Munich real estate market 2024: forecasts and tips from experts like Thomas Aigner

The Munich real estate market 2024: forecasts and tips from experts like Thomas Aigner

According to a report from www.merkur.de, real estate expert Thomas Aigner criticizes the city of Munich's discouraged housing policy. He predicts a somewhat downward trend in interest rates and a possible stagnation or slight fall in real estate prices in 2024. Aigner also observes that more and more people are switching from the purchase market to the rental market due to high interest rates, which is leading to an increase in rents. According to Aigner, this could lead to more people deciding to buy. The property developers are in a state of shock because they calculated their properties using the interest rates at the time and not the current level. The urban development measures were neglected during the Corona period, which will lead to knock-on effects predicted by Aigner in the next few years. According to Aigner, too few affordable apartments are being created in Munich because the planning does not implement what people want. This could result from young families having difficulty buying a home, as prices in Munich are extremely high, even around 8,000 to 9,000 euros per square meter for new buildings. Aigner also criticizes the current mayor Dieter Reiter, whose policies he describes as not helpful for people who want to move to Munich. Reiter defends himself against these accusations and emphasizes that the city has done a lot to create affordable housing.

Aigner predicts that the market development will continue to be difficult over the next five years. He emphasizes that greater thinking and action is needed in Munich to solve the housing problem. Despite the current challenges, Aigner hopes for a long-term, positive development of the real estate market in the Munich region.

Source: www.merkur.de