Real estate market outlook 2023 - Was that it for the real estate price boom?

For years, things only ever went up. And now? Was that it with the price boom for real estate?

First of all, the good: all property owners have benefited massively from the great demand in the housing market in recent years - also with us in Bocholt. For every owner in the last decades the purchase was probably one of the best investments in his life. Apart from the great increases in value, however, one thing must not be forgotten: A property gives security. It is a pole of rest, a home.

With us in Bocholt, the prices have risen permanently. But now we see that the moon ride is slowly coming to an end. The reason for this is certainly the increased lending rates and the greater caution of banks when granting a mortgage.

Is there already a significant decline in demand?

In fact, we can already record a certain buying restraint. However, this can not be so easily generalized. It depends to the highest degree on what kind of real estate it is, in which condition this is and above all where exactly this stands. We as real estate agents know the huge differences in the so-called "micro location". An apartment with a fantastic distant view, quietly located and yet not far from the shot - for this the demand does not decrease. But difficult locations are less in demand. That is different than still a few months ago, where for each still so questionable object in wind speed various prospective customers appeared.

So does the situation on the real estate market relax?

A bit far yes. But it is not quite so simple. New construction as well as renovation activities currently suffer massively from the problems in the supply chains and from the increased prices for raw materials. Nevertheless, the dream of owning your own home remains. As before, real estate is an attractive investment opportunity, offers security and not least a home.

What specific tip can we currently give real estate owners as well as prospective buyers?

Owners we recommend the clear reflection, whether the property still fits to the own life. If you have been thinking about a sale for some time, now is an ideal time to do so. Prices are still high and there are customers with purchasing power. In addition, in the near future it is not expected that real estate prices will continue to rise.

At the same time: if you want to buy, you should do so now. Firstly, more properties are currently coming onto the market and secondly, the financing options are probably not getting any easier in view of the interest rate forecasts.

On our website, you will find a small check that will help you click by click to make the right decision in view of the challenge of the current situation. The key is to analyze your individual situation professionally and then be able to make an informed decision.

Here's how to get to the check: www.immowissen-bocholt.de