Dhe acquisition of residential property has become unaffordable for large parts of the population. On the one hand, this is due to the abrupt turnaround in interest rates, with which the European Central Bank is now rushing to fight inflation, which it has long ignored.
At the same time, asking prices are falling slightly, but not enough to offset the increased cost of debt financing. The Institute of German Economics in Cologne has now analyzed the extent of this development in a study that was available to WELT in advance. The consequences of the market turmoil can be clearly observed on an affordability map.