D.he Corona crisis has awakened the Germans’ lust for land. This is shown by an evaluation of the real estate financing platform Interhyp, which was published on Wednesday. he human is an animal of habit. According to this, Germans prefer to build or buy property where they are already at home – but less and less if they live in cities with more than 500,000 inhabitants. “Metropolitan residents want to buy their own property in medium-sized and small towns more often than in the past. People from the countryside or very small towns move there less often than a few years ago, ”said Interhyp CEO Jörg Utecht.
According to him, these trends continued during the Corona crisis and increased slightly, especially in the second quarter of 2020. According to the Interhyp analysis, those who live in the countryside tend to remain rural residents. Small townspeople are more likely to buy again in small towns with fewer than 20,000 inhabitants. The tendency to buy or build where one already lives is greatest in medium-sized and small towns. According to data from Interhyp, 68 percent of property buyers in the first half of the year came from small towns who buy and build in small towns. The number of residents from medium-sized cities is similarly high at 66 percent.
The flight from big cities and metropolitan Poland, where real estate prices have risen the most in recent years, has continued. In 2016, it was still 63 percent in 2016 who wanted to buy a home in a city with 500,000 or more inhabitants. According to Interhyp, it was only 57 percent in the first half of 2020. The proportion of city dwellers who buy a property again in a large city has fallen in the past five years from 61 to 58 percent.
Residents from metropolitan cities – in particular Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf – are increasingly drawn to medium-sized and small cities. The proportion of these property buyers and builders has increased further compared to 2016: from 17 to 19 percent for medium-sized towns and from 12 to 14 percent for small towns. According to the Interhyp evaluation, however, only a few move to the countryside or to places with fewer than 5,000 inhabitants when buying property.
Small cities are becoming more popular
Nevertheless, Interhyp is seeing an increasing desire for land: Those who already lived in the countryside or in small towns stayed there more often today than in the past: in 2016, 56 percent of rural residents bought their property in the countryside; in 2020 the figure is 59 percent. “We have been observing the trend towards real estate outside the metropolitan areas since yesterday. But with the pandemic, development is gaining new momentum, as can be seen in the analysis of our data, “says Jörg Utecht. In his opinion, the trend towards home offices plays a major role.
“If mobile working allows commuting to work only twice a week, this saves time and money. In rural areas and in small and medium-sized towns, owning one’s own home is becoming an affordable and practicable alternative for those who cannot find their own home in the large and metropolitan cities. ”However, this presupposes a good infrastructure in the target areas. This included, for example, good digital connections, shopping opportunities and good, broad medical care.