dmbartender

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About dmbartender

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Profile Information

  • Location Rosenheim, Bavaria
  • Nationality american
  • Hometown Milwaukee
  • Gender Male
  • Year of birth 1980
  • Interests Photography, fishing, travel, american football
  1. Bavaria and the real estate bubble

    Hey guys, it is now nearly 5 years since I started this thread.   We still haven't bought a house, but we have come close a couple of times. We nearly got one for 525k in 2017. Then, we almost got a EFH in 2018 for 660k, but that was also too much. Now we are looking at prices around 750k.   The house prices have gone way over our heads, and continue to pass us by. I don't know why we still have hope that something affordable and decent will come on the market. If this trend continues, in just a few years we will be about 1 Mil for a DHH or REH.   On the other hand, if the Leitzins is eventually raised, and house prices stagnate, it will still be just as expensive or more, due to the interest.    I would say we should have bought something in 2015 for 450k, but the banks wouldn't give us a loan back then. They wanted 28% down.   What do you all think? Will the prices ever come down to where a normal family might be able to buy one, like 400k?
  2. Buying real estate in Austria

    Hey everyone. We are considering buying an apartment in Tirol, in Ebbs or Niederndorf, and renting it out as a Ferienwohnung. We still live in work in Germany, and intend to stay here. The reason we are considering this is because the prices in our area have passed us up, but we might be able to get an apartment in Austria, in a beautiful landscape, for a more affordable price.   Has anyone had experience buying in Austria, and renting out for short term rentals? My wife has done a little research, and it seems there are some restrictions to this. We would like to run a Ferienhaus, so that we can also use the place from time to time, and it is a highly attractive region for vacationers.   Thanks for your inputs!
  3. Bavaria and the real estate bubble

    Hey guys, I thought I would update this topic again.    I suppose I can finally concede that this is in fact not a bubble, and that the prices will not become affordable any time soon. We should have bit the bullet 5 years ago, when half a million seemed like a lot. Now we are at about €750k for a new DHH, when the occasional one pops up on the market (this is in a small village 60 mins outside of Munich). Prices have been going up steadily in our local market by €50k a year, and although I didn't think it was sustainable, experience proves otherwise.   As to another reference, a friend of mine working in Munich found a 100m2 apartment for ca. 700k recently. Seems like a lot, but I suppose that will be a great investment in Munich.   Anyway, to update our personal situation, we moved into a single family home to rent. It costs about twice as much as our old apartment, but still half of what owning it would cost. Probably consumes about half of my disposable income. It is a beautiful house though.
  4. Bavaria and the real estate bubble

    I've been watching the real estate market here around Rosenheim the last three years, entertaining the idea of buying a home. With ultra low interest rates and fear of inflation and currency reform, many people want to transfer their savings into Betongold. As a result, an ordinary single family home in our village of 6000 people costs half a million euros, whether old our built new. The housing prices have been rising at 5-10% per year.   I wonder how long the real estate market can keep this high? I feel that if interest rates can no longer be artificially suppressed that enough people will have to default, vacating possibly enough homes to bring the local market back somewhat to realistic rates.   Would anyone with more experience in this arena like to weigh in? Should I force buying a house now, or cross my fingers for a more favorable buyers market in the distant future?