The German real estate market is known by many as a "housing paradise" because the country has always adhered to the principle of "housing for living, not speculation", aiming to guarantee housingSocial welfareQuality. After World War II, Germany experienced great challenges in rebuilding houses. ** Proactive policy measures have been taken to encourage developers to build homes through direct grants and tax exemptions, and to require that the fittings, sizes and rents of the homes be available to the widest range of people. Guided by **, the German real estate market is not attractive to hot money, so it is also relatively stable. In addition, Germany** has tightened control of the property market in terms of both buying and selling by restricting the selling prices of developers and landlords, as well as strict leasing laws. This original intention andSocial welfareThanks to the oriented housing policy, Germans are extremely satisfied with housing.
However, strict control policies have created some problems. The first is the real estate market for the long termInvestmentsThe dilemma of inadequacy. Due to the potentialRate of returnWith limited resources, the German real estate market struggles to attract capital for new projects. According to research, there is currently a shortage of more than 700,000 housing units in Germany, especiallyAffordable housingField. Although 400,000 homes are planned to be built each year, the likelihood of actually achieving the target is low. In addition, strict rental market regulations have also led to a lack of flexibility in the market, such as the shortage of new homes**, developers converting rental apartments into ** apartments, etc., which further exacerbates the problems in the rental market.
The German real estate market is currently facing its worst crisis in decades. In the first half of this year,PropertyTransaction volume fell 59% year-on-year in the first quarterRoom rates**68%, the largest drop in history. More and more people are feeling hopeless when looking for housing, **insufficient, rent**, and income can no longer afford better housing. The housing problem in Germany has become a serious social problem.
The causes of the German real estate crisis are manifold. First of all, strict regulations and leasing regulations limit the profits of developers and owners, resulting in:InvestmentsLack of willingness, fewer new projects. Secondly, the failure of the housing program to materialize and the crisis in the construction industry led to the cancellation of construction projects and the bankruptcy of developers. In addition, housing shortages, rents, and the influx of migrants have exacerbated tensions in the housing market.
However, the causes of the German real estate crisis are different from those of other countries, such as China, not because of the over-leverage of real estate companies, but because of the loss of market resilience due to the most stringent regulations. This situation is worth learning from other countries.
The real estate market in Germany was once considered a "housing paradise", with a focus on affordable housingSocial welfareQuality. ** Take proactive policy measures to restrictRoom ratesand the rental market, which is committed to providing homes that are suitable for the masses. However, strict control policies have led to:InvestmentsInadequacy and housing shortages. Currently, the German real estate market is facing a serious crisis with a decline in transaction volumesRoom rates**, the housing problem has intensified. Causes of the crisis include strict regulations on controls and tenancy, unfulfilled housing programs, and a crisis in the construction industry. The difference between the German real estate crisis and other countries is that it is not due to the over-leverage of real estate companies, but because the market has lost its elasticity due to the regulation of the real estate industry. **We should learn from Germany's original intentionsSocial welfareorientation, but also pay attention to the flexibility of the market in policy formulationInvestmentsIncentives.