In view of the rise in building interest rates, consumers rediscovered building savings for themselves last year. In terms of the volume of newly concluded contracts, he expects an increase of 40 percent in 2022 compared to the previous year, said the CEO of the Association of Private Building Societies, Bernd Hertweck, the German Press Agency. The number of pieces is 15 percent more. The demand is still high.
The Association Director of the State Building Societies, Axel Guthmann, put the growth in home loan savings for the months of January to September 2022 at just under 49 percent. The number of contracts concluded went up by 22.8 percent. The Landesbausparkassen account for around a third of the German market, with the private institutes sharing the rest.
The reason for the boom is obvious, said Guthmann: “Builders and buyers want to protect their real estate financing as best as possible against the risk of rising interest rates.” Secure equity formation and low-interest loans – that is the core idea of home savings. People would have rediscovered that for themselves in the spring.
