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The higher interest rate environment and the drastically increased construction costs are causing upheavals in the real estate markets throughout Europe. Regardless of whether it is in Germany, Switzerland, Spain, Italy or Latvia, transactions involving condominiums and commercial real estate have in some cases fallen sharply.
Only one real estate class is developing against the trend in several European countries: high-priced holiday real estate. This is the result of an evaluation of real estate transactions that the international law firm Rödl & Partner carried out exclusively for WELT among its European offices. This shows that the increase does not only affect classic holiday destinations such as Italy or Spain.