Is it still a good idea to buy a property despite the sharp rise in interest rates? Many are skeptical. “Home ownership is now out of reach even for the upper middle class,” writes the “Welt”. The jump in the interest rate from at times below one percent to 3.5 to four percent means that the monthly burden when buying a house often reaches 3000 euros a month. “For home ownership to remain just as affordable after the sharp rise in interest rates, real estate prices should actually have fallen by a third,” says Ronald Slabke, head of real estate financer Hypoport.
