Buy a home or favor to hire: That’s what consultants say | EUROtoday

Kaufen oder mieten? Das ist hier die Frage. Die Antwort kommt gewiss immer auf den Einzelfall an und damit auf die jeweiligen Ausgaben für die beiden Möglichkeiten. Nach neuen Daten des Statistischen Bundesamtes sind die Preise für Wohnimmobilien zuletzt leicht gestiegen, aber liegen noch niedriger als ein Jahr zuvor.

Genaues hängt von den Angeboten der einzelnen Region ab. So sind in den sieben größten Städten Deutschlands die Kaufpreise für Wohnungen im dritten Quartal um 0,2 Prozent im Vergleich zum Vorjahreszeitraum gestiegen und im Vergleich zum vorherigen Quartal um 0,2 Prozent. Gerade im Vergleich zu vorherigen Zeiten sind die Änderungen überschaubar.

Offen ist, ob sich die Immobilienpreise ähnlich weiterentwickeln. Der Finanzierungsvermittler Dr. Klein sieht eine leichte Tendenz nach oben für die Kaufpreise und erwartet dies auch für das kommende Jahr. „Die Immobilienpreise werden wieder steigen, allerdings in einem überschaubaren Rahmen“, sagt Florian Pfaffinger, Leiter der Münchner Niederlassung.

Er rechnet mit einer Steigerung zwischen ein und drei Prozent. In Metropolregionen würden die Preissteigerungen spürbarer ausfallen als in strukturschwachen Regionen. Die Tendenz wird jedoch flächendeckend gleich sein. „Wichtig ist: Es gibt keinen Grund zur Eile“, sagt Pfaffinger. „Preissprünge werden wir 2025 nicht sehen.“

Wer ein Haus kauft, nimmt in der Regel einen größeren Kredit auf. Die Zinsen dafür sind zuletzt gefallen, was Hausfinanzierungen erleichtert. Teilweise liegen die Bauzinsen je nach Kreditkonditionen auch schon unterhalb von drei Prozent. Pfaffinger spricht davon, dass die Bauzinsen im kommenden Jahr eher zwischen 3,0 und 3,5 Prozent verbleiben. Allerdings erwähnt er eine hohe Unsicherheit, gerade für die wirtschaftliche Entwicklung im zweiten Halbjahr, und spricht von möglichen Strafzöllen in der beginnenden Amtszeit von Donald Trump als amerikanischer Präsident – mit Folgen für die Inflation.

Für das laufende Gesamtjahr kommt das Deutsche Institut für Wirtschaftsforschung in Berlin zu der Einschätzung, dass in mehr als 150 Städten die Baugrundstücke, Eigenheime und Eigentumswohnungen im Durchschnitt nominal fünf Prozent günstiger waren als vor einem Jahr. Grundlage dafür sind regionale Daten des Immobilienverbandes IVD. Die Mieten sind hingegen um nominal vier Prozent gestiegen.

Für einen Hauskauf kommen damit verschiedenen Einflussfaktoren zusammen. Wer sie durchrechnen will, kann dies auf FAZ.NET mit dem neuen Mieten-Kaufen-Rechner angehen und dabei die Alternativen „Mietwohnung“ und „Kapitalanlage an der Börse“ berücksichtigen. Wie Fachleute aus der Immobilienwirtschaft die Frage „Miete oder Kaufen“ beantworten, haben sie der F.A.Z. verraten.

“If the necessary equity is available, ‘buying’ currently seems to make more sense. Prices have fallen significantly over the last 18 months, and the further shortage of living space due to the declining number of building permits will cause prices to rise again in the medium term. Against this background, rents will continue to rise.”

“Planning is more important here than economy! If personal and often geographical life planning allows it, buying should tend to take precedence over renting. Buyer behavior over the past 20 years also shows that this ability to plan is more likely to occur in the middle thirties – family planning also plays a central role here: first-time buyers of real estate are, on the whole, getting older and older. Another argument for the purchase: apartment rent increases in the next ten years are programmed.

Far too few new buildings come onto the market; Energy-saving renovations are planned on a large scale and some of them will be passed on to tenants. However, this simple analysis has a structural error: the younger generation now has a significantly higher affinity for stocks or ETFs. As a result, competition for real estate is increasing. For many people, taking a rented condominium as an investment and renting it yourself is a growing expression of real estate as a stable value that goes hand in hand with the desire for spatial flexibility.”

“Whether renting or buying is the better choice depends on the individual situation and market conditions. Buyers are currently facing challenges such as increased interest rates, construction costs and a weak economy, while tenants benefit from flexibility. Nevertheless, the real estate market offers long-term opportunities, especially in sought-after locations with stable demand and growth potential.

Anyone who can use capital strategically should take advantage of the current market shake-outs – be it to purchase living space or to benefit from rent increases in top locations. At the same time, housing remains a scarce commodity and the significant lack of supply continues to drive up prices. Politicians are also called upon to improve the framework conditions for investment in housing construction and to close the supply gap.”

“Anyone who is thinking about buying their own four walls and has equity should look around quickly – at least for new buildings, prices will tend to continue to rise. For used properties, the question of the energy standard remains crucial for the purchase price. For those who need to take on more borrowed capital, renting can and must continue to be an interesting alternative.

Despite interest rates falling again, financing costs are relevant, especially since there are no signs that high transaction costs such as property transfer tax will decrease. In principle, increasing burdens can be expected here – the possible abolition of the rent cap is likely to accelerate this. In short: If you can afford it, you should buy quality now. Renting tends to be more expensive, but for many it is the only alternative.”

“When it comes to your own housing, the question of ‘renting or buying’ cannot be answered in general terms, but rather a decision based on personal living circumstances, work situation, financial resources, length of stay and location. Renting can definitely make sense for short stays in a property in the big city – especially if you don’t (yet) have the necessary capital to purchase property.

Scarcity is a phenomenon to consider here. In the current market environment, with purchase prices tending to be stable and interest rates falling, it is also possible to purchase, use your own property and later rent it out in almost all metropolitan areas with your own healthy equity capital of at least ten percent of the purchase price. The rental yield should be higher than the interest rate on the financing.”

“Buying or renting – there are generally good reasons for both. To purchase a property, the price should be right and the financing must be affordable. The purchase can then represent an important building block in the context of retirement planning and wealth creation. However, many people lack the necessary capital. Tenants benefit from flexible housing options: They are not tied to one apartment and one location in the long term – important if they move frequently for work or if life circumstances change foreseeably.

In addition, especially with large housing companies, they receive a comprehensive range of services from their landlord, which includes personal contact as well as maintenance and repairs. Unlike owners, tenants do not have to worry about these aspects themselves. I can’t therefore make a general recommendation – it depends very much on the individual case.”

“At the moment there is a very good window of opportunity to purchase property for personal use or investment. The purchase prices in 2023 have fallen sharply in some cases depending on the region, location and features. In 2024, prices have stabilized while interest rates have fallen again. Since buyers are not lining up again at this point, sellers may be able to negotiate well.

For years, rental prices have only known one direction, especially in popular metropolitan regions: upwards. This factor also speaks in favor of buying a property in the long term. If mobility is still required and there is not enough equity to buy, renting is completely legitimate. In the later stages, home ownership for personal use is preferable to renting.”

“Renting is particularly suitable for people who need to be flexible when it comes to where they live, such as students. For everyone else there is nothing wrong with purchasing property – on the contrary. In the long term, there will be increases – positive for wealth creation and also beneficial as retirement provision. Even in international comparison, Germany still has a lot of catching up to do when it comes to property. In the end, the paid apartment is always the most affordable apartment.”