- In the first half of 2023, the general underlying conditions did not fundamentally improve on the previous year. The energy crisis appears to have been averted for now, although significantly increased financing, construction and land costs, as well as high inflation, continue to create a challenging market environment for all participants.
- More negative price corrections, especially for less energy efficient apartments, illustrate the continued weakening demand in the owner-occupier market.
- For many average private households, there is no alternative to renting, at least in the new build segment. However, rents are still affordable, partly due to subsequent effects in the form of wage increases that have already taken place.
- Excess demand will continue to exist in the rental housing market in the short and medium term, due to continued population growth and sluggish construction activity. Rental prices are likely to continue to rise — in high-demand locations in general, but particularly in either the new construction segment or the still relatively cheap rental housing markets.
- The foreseeable potential for rent increases and the stability of cash flows continue to make apartments very solid assets.