Selling real estate is no longer as easy as it was before the turnaround in interest rates. With higher interest rates making it more difficult for buyers to obtain financing, supply is outstripping demand in some regions.
Sebastian Eraghi, COO of the real estate agent Neho, expects prices to fall by another ten percent by the summer. He therefore recommends that those who want to sell their property sell now rather than later.
If you hire a broker for the sale, you have to pay a percentage of the purchase price as commission. If you decide against a broker, you should plan money for marketing and time for viewings, among other things.
Buyers are increasingly in charge of the real estate market. One of the reasons why supply is outstripping demand is higher interest rates. Because higher interest rates make financing more difficult for real estate buyers. As a result, real estate prices are falling in some regions of Germany for the first time in a long time.
Sebastian Eraghi, chief operating officer of the real estate agent Neho, expects prices to fall by another ten percent by the summer. “Then the market moves back into equilibrium as interest rates rise,” he tells Business Insider. Eraghi therefore advises: “It’s better to sell now than later.”