Financial expert warns: Older houses in Dortmund are losing significant value

Financial expert warns: Older houses in Dortmund are losing significant value

According to a report by www.ruhrnachrichten.de, the value of older houses in Dortmund has decreased significantly. This development is primarily due to the fact that these older properties are in great need of renovation.

Need for renovation priced in
Experts are of the opinion that the loss in value of older houses in Dortmund is primarily due to the high need for energy-related renovations. This need for renovation is taken into account by potential buyers when calculating the price and thus leads to a significant loss in value compared to modern and energy-efficient properties.

The alternative of new construction is missing
Another reason for the loss of value in older houses is the lack of alternatives in the form of new buildings. Since new real estate construction is limited in Dortmund, the demand for existing houses is increasing, even if they are in great need of renovation. This contributes to the price difference between older and modern properties.

Plan for a financial buffer
For potential buyers of older houses in Dortmund, this means that they must plan a financial buffer to cover the costs of necessary renovation work. In addition, you should realistically assess the purchase price, taking into account the need for renovation, in order to avoid impairment.

These developments show that the real estate market in Dortmund is influenced by various factors that potential buyers and sellers should take into account.