Published: Wednesday 01/11/2023 06:50
Rents for apartments and houses have again increased more markedly. Especially for new rentals, landlords have raised the price in the last year. A family with 100 square meters of living space pays an average of 50 euros more in Mülheim. This was established by the Immowelt real estate portal. The average price per square meter in Mülheim rose to 7.50 euros, an increase of 7% compared to the previous year.
© Christin Klose/dpa-tmn
In December, there were 27,308 loan applications. That’s 40 percent less than the same month last year, according to data from data collector HDN. It is the third consecutive month that the number of applications is tens of percentage points lower than the previous year.
The decrease is partly due to the increase in mortgage interest rates. Banks and other mortgage lenders have raised their rates considerably over the past year. Due to the high interest rates, it is more difficult for beginners to get sufficient financing.
It is also less interesting to transfer the mortgage. HDN’s data thus shows that many homeowners have “brought their mortgages with them,” while in the fall of 2021, few have.
Earlier, data from Statistics Netherlands also showed that fewer homes were sold in recent months.
This issue focuses on the perspective of a real estate guru, Mr. Pattarachai Taweewong, Director of Research and Communications, Colliers Thailand, who answers the questions: Will foreign clients return in 2023? Because?
that even in the second half of the latest 2022, the real estate sector in Thailand faced the news of gray Chinese investors, which resulted in a large number of down payments and non-transfer of ownership of Chinese investors, especially in the market high-end real estate.
However, Colliers Thailand’s Research and Communications Department believes that foreign customer management may do better than the past 2 years, but still not return to the same or close to the previous period. virus This is something that takes time due to the impact of virus spreading. not only has it destroyed the Thai economic system but it affects the overall picture of the global economy which has undergone a significant slowdown.
But in 2023, from positive factors, measures to open up the country by the government in the past that allow foreigners to travel to Thailand more conveniently and the country’s opening up and China’s easing measures. It will be an important positive factor for foreign purchasing power which still sees investment opportunities in Thailand. Able to travel, buy, bargain and transfer ownership more affordably next year.
Colliers Thailand’s research and communication department believes that developers should focus more on targeting Thai customers in 2016. 2023 and for overseas purchasing power, sales channels should be increased through various agent platforms. or more online channels To open another sales opportunity in a situation where foreign purchasing power is still not able to enter normally
The Real Estate Information Center recently disclosed that the transfer of condominium ownership to foreigners accumulated during the 9 months of 2022 showed that there were 7,290 units, an increase of 19.0%, worth 36,986 million baht, with an increase of 24.3%, with an increase of 337,914 square meters of property transfer area, 28.3%, which shows that The situation of ownership transfers of condominium units to foreigners in the year 2022 of the last 3 quarters should show that The overall foreign condominium market is set to recover. And the purchase of condominium units by foreigners in the past has been transferred all the time. There is also new buying pressure from foreigners who are not Chinese buyers to replace the buying pressure of Chinese condos that has also been lost due to recent outbound travel restrictions.
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House prices fell further in November and faster than in previous months. In one month, the value of owner-occupied homes was down 1 percent from October. This is the steepest drop in a month since May 2013.
Data from Statistics Netherlands (CBS) and the Kadaster show that house prices have risen sharply since 2013, but that trend has reversed since the summer. Prices have dropped for four consecutive months.
This trend reversal is due to the fact that borrowing money for a house has become more expensive due to the increase in interest on mortgages. Consumer confidence in the economy and in their financial situation has also been exceptionally low for months.
Economists predict a further decline in house prices in the coming months. the Dutch bank predicts a 6% drop in house prices in 2 years.
Data from Statistics Netherlands shows that house prices were even higher in November than they were a year ago. In November, a house changed hands for an average of over 423,000 euros. That’s just under 5 percent higher than it was a year ago.
House prices in the Netherlands have increased by 97% in 10 years.
Prices for owner-occupied homes rose 4.9% last month compared to a year ago. In October, houses that changed hands were still 7.8% more expensive than in the same month a year ago, according to Statistics Netherlands and Kadaster.
“It’s the smallest year-over-year price increase in more than six years,” says CBS. If you compare house prices in November with those of the previous month, you see a 1% drop.
However, an average existing owner-occupied home is still nearly 95 percent more expensive than it was in June 2013. “The average transaction price of a home was €423,124 in November.”
◀ Anchor ▶
To break through this narrow commercial cliff, the government continues to loosen regulations related to the housing market.
It has been announced that it will allow home mortgage loans for people with multiple homes, but it seems difficult to have an immediate effect in the current environment of high interest rates.
Reporter Ayoung Kim will tell you.
◀ Report ▶
The government has also announced it will unfreeze mortgage lending for people with multiple homes who own multiple homes.
[김주현/금융위원장]
“There are many instances where mortgage loans are not permitted for multiple homeowners or rental business owners.”
Looking at the market situation in the future, we will make progress so that these people can also use mortgage loans.
The government has already allowed apartment mortgage loans exceeding 1.5 billion won in speculation-heated districts and relaxed LTV rules for non-homeowners.
It is also decided to promote acquisition tax reductions when people with multiple homes purchase additional homes.
The aim is to induce a soft landing by preventing a steep drop in prices by opening real estate transactions blocked by a cliff.
Immediate liberalization could alleviate the concerns of “temporary second home owners” who find it difficult to move into a new home because the existing home is not being sold.
However, it is expected that it will not be easy to resume the buying trend unless the high interest rate, which is the root cause of the housing crisis, is resolved.
[함영진/직방 빅데이터랩장]
“I have to pay 5-7% interest on the mortgage, but I don’t think it’s an easy choice to buy another house…”
The “Judamdae” regulation for people with multiple homes was introduced in 2018 during the Moon Jae-in administration.
[최종구/당시 금융위원장 (지난 2018년)]
“I have a lot of money, so I can’t help but buy another house with that money, but the purpose is to prevent banks from providing financial support to such speculative demand.”
Some point out that while the effect on the housing market is small, it only benefits potential speculators, creating factors that will drive home prices up again when the housing market changes in the future.
I’m Kim Ah-young from MBC News.
Video Editing: Jinwoo Kim
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