Real estate market (Germany)

from Wikipedia, the free encyclopedia

The German real estate market is in the real estate industry , a market where the vendors and buyers of real estate meet.

General

The functioning of the German real estate market corresponds to that of other real estate markets, especially with regard to its peculiarities, which distinguish it from the goods market , for example (see real estate market # characteristics of the real estate market ). The real estate industry includes all companies that deal with the planning , construction , financing , management and sales / rental of real estate. For their work, these companies need basic information about market developments in the real estate sector and the effects of framework conditions.

Situation in Germany

With the introduction of the Federal Building Act in October 1960, after the abolition of fixed prices in real estate transactions , the legislature assigned the federal states the task of ensuring general transparency on the real estate market by setting up expert committees and managing purchase price collections . For this purpose, copies of all land purchase agreements are sent to the offices of the expert committees by the notaries . Purchase price collections are databases in which the purchase contracts are recorded to the required extent with their essential contract data, organizational features and the price and value-determining features; they thus represent an original image of what is happening on the property market. The analysis of this purchase data provides the information that is essential for the real estate industry. B. be published in the form of property market reports and standard land values . In addition, the data from the purchase price collection is available to authorized interested parties. Data protection requirements are met by anonymizing the purchase data accordingly.

Working Group of the Upper Expert Committees, Central Offices and Expert Committees (AK OGA)

The regional responsibility for official appraisals has so far been an obstacle to comprehensive, nationwide statements on the real estate market. In order to be able to provide a complete overview of the real estate market for the entire Federal Republic of Germany, based on the actual purchase cases, an informal working group of expert committees and upper valuation committees in Germany was formed in 2007 in Hanover with the aim of using the official data available in the individual countries To merge valuation, to develop nationwide statements about the real estate market and to publish the results regularly in a real estate market report.

With the reform of the Inheritance Tax Act and the associated amendment of the Building Code in 2009, the establishment of central institutions of the expert committees in the form of upper expert committees or central offices in all countries (with the exception of the city states) became mandatory. Your task is, among other things, to create supra-regional evaluations and analyzes of the real estate market.

In the administrative agreement on cooperation in the field of official property valuation between the federal states and the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, which is responsible for construction, of April 20, 2016, the working group of expert committees and higher expert committees, which initially works on a voluntary basis, is a permanent institution with the name of the Working Group of the Upper Expert Committees, Central Offices and Expert Committees (AK OGA) . The AK OGA unanimously elected Anja Diers (Lower Saxony) as chairwoman in its constituent meeting on May 31, 2016 in Leipzig; their representative is Jürgen Kuse (Brandenburg). Both are chairmen of the upper committees of their countries. Until further notice, the editorial office of the working group is located at the office of the Upper Advisory Committee in Lower Saxony.

Real estate market report Germany

The working group of the upper appraisal committees, central offices and appraisal committees (AK OGA) is responsible for the publication of the real estate market report Germany (IMB-DE) every two years, including the determination of transnational property market data for this purpose. The first edition of the Real Estate Market Report was published in 2009 (reporting period 2007–2008), others followed in 2011, 2013, 2015, 2017 and 2019. They each cover the two preceding calendar years as the reporting period. The next report will be published at the end of 2021.

statistics

With a turnover ( gross value added ) of almost 500 billion euros, the German real estate industry had a share of 18.2% of total turnover in Germany in 2016, only exceeded by the manufacturing industry . This makes the German real estate market the second largest in the country. The 817,106 companies in the real estate market accounted for 25.1% of all companies and 9.5% of all employees. At the end of 2015, around 82.2 million people in Germany lived in a good 41.4 million apartments and 19.4 million buildings with a living space of around 3.79 billion square meters. They worked, for example, to around 426 million square meters of office space , 2.8 billion square meters of industrial and logistics space or 123,700,000 square meters of retail space at retail.

Real estate is the most important real asset class in Germany. Buildings of all kinds accounted for 80.3% or 13.9 trillion euros of the total gross fixed assets (at replacement prices) of 17.3 trillion euros at the end of 2016. After deducting depreciation , the total German net fixed assets in buildings came to just under 8 trillion EUR, of which EUR 4.8 trillion are tied up in residential buildings and EUR 3.2 trillion in non-residential buildings. The real estate areas are divided into agriculture to 52%, forest areas 31%, settlement and traffic areas 14% and water areas 2% of the total real estate area. Settlement and traffic areas reach 76% of all assets.

See also

literature

Web links

Individual evidence

  1. ^ Society for Real Estate Research (Ed.), Economic Factor Real Estate 2017 , Real Estate Market Report Germany 2017 , p. 2
  2. ↑ Administrative agreement on cooperation in the field of official property valuation. Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety, accessed on March 31, 2017 .
  3. ^ Society for Real Estate Research (Ed.), Real Estate Economic Factor 2017 , Real Estate Market Report Germany 2017 , p. 3
  4. ^ Society for Real Estate Research (Ed.), Real Estate Economic Factor 2017 , Real Estate Market Report Germany 2017 , p. 9
  5. ↑ Society for Real Estate Research (Ed.), Economic Factor Real Estate 2017 , Real Estate Market Report Germany 2017 , p. 19