Real estate loans down by a third

Uncertainty is felt, says Jäger. Above all, the new credit guidelines for private customers cause many to hesitate. There have been three tightenings since August 1: Buyers needing a loan must be able to prove at least 20 percent of the purchase price (including ancillary costs) in the form of equity. The loan rate cannot exceed 40 percent of the monthly net income and the loan term cannot exceed 35 years. Although the change has only been in effect since August 1, demand for home equity loans has already dropped by about a third, says Jäger.

The real estate sector is already noticing the decline in private home sales. “We notice this when we go to visit the city. Many come to have a look at the property, but then there are few or no offers, “says Philipp Feuerstein of the Re / Max real estate company.

Uninterrupted demand for luxury apartments

While the sale of private apartments is declining, the demand for luxury apartments and investment apartments remains high, says spokesman for the Vorarlberg broker Ambros Hiller. But he also sees something good in the current situation: “Recently apartment sellers entered the market who believed that you could ask for what you wanted.” A little bit of normality will come back here.

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