Luxury properties on Lake Tegerne: buying buying despite bargains!

Luxury properties on Lake Tegerne: buying buying despite bargains!

Am Tegernsee, known for its beautiful prospects and expensive properties, there is currently a decline in the real estate market. High loan rates and worldwide uncertainties hold back potential buyers. Many luxury villas that were once a dream for many are now real shopkeepers. A current search on real estate portals shows that around 59 houses are for sale in Bad Wiessee, Gmund and Rottach-Egern alone. These luxurious properties that cost millions can hardly find buyers.

The Situation is questionable: an exclusive villa with a sea access in Bad Wiessee is on the list for around 16.9 million euros - it has twelve rooms and extends over 447 square meters. In Rottach-Egern, a historical property is offered for 7.8 million euros, which includes 18 rooms and 600 square meters. Such price tags would have been quickly ticked off in better times, but the situation is currently different. According to the luxury broker Oliver Herbst, the demand has dropped sharply, which has the impression of a standby market. "We have much less demand than before the Ukraine War," he explains.

reasons for the restraint

The buyers are unsettled and this has several causes. "The high loan rates have put many off," said Herbst. Not too long ago, these were only 0.7 percent, now buyers have to expect interest rates of 3.6 percent. This has significantly increased the financing costs.

The layers of the buyers have changed: While entrepreneurs, celebrities and athletes bought the lucrative real estate in the past, this type of buyer is now missing. "We had a real real estate crisis," says Herbst, "Even wealthy people are reserved today." In view of the currently high interest and the general uncertainties on the market, buyers tend to put their hands in their laps.

Despite the dark clouds on the horizon, autumn lights at the end of the tunnel. "Similar to the Expo Real, we all agreed that we have already passed the valley of this crisis. The market will soon recover," he is optimistic. It is assumed that the market will attract again over the next few months. The first interested parties report to sign a purchase contract - for fear of the high interest.

a glimmer of hope

Could falling interest rates be the key to the turn? Autumn is convinced: "We expect interest rates to fall to two to three percent soon. Then sales pressure will probably increase." In fact, the key interest rate was reduced by the European Central Bank to 3.25 percent on October 17. This could have a positive impact on the situation on the real estate market, even if the return for savers suffers.

Times may be challenging at the moment, but Herbst's advice for potential buyers who are ready to buy now is: "The prices are still well negotiable. Brave who are now striking could benefit from lower interest rates later." While the uncertainty continues, the hope remains that the market for luxury properties on Lake Tegernsee will soon recover. Further information about the market and the current developments can be found on www.merkur.de .