As part of the housing construction summit, the federal government decided on a comprehensive package of measures to stimulate the struggling construction industry. Accordingly, the tightening of energy standards for new buildings actually planned by the traffic light government should be suspended. In addition, the federal government wants to provide more support to families in purchasing home ownership. According to media reports in Spiegel, the maximum loan amounts should be increased by 30,000 euros - as well as the maximum income limit of the applicants from 60,000 to 90,000 euros annual income. In line with this, the federal government wants to launch a home ownership program called “Young Buys Old” for the acquisition of existing buildings in need of renovation. Another aspect: The federal government also wants to provide more support to owners than before when it comes to replacing heating systems. Anyone who replaces their heating system in the next two years should receive a climate speed bonus of 25 percent - instead of 20 percent as previously planned.
Commentary by Nikolai von Brandenstein
First of all, it is an important sign at a long overdue time that the federal government is once again providing effective support to home buyers, investors and developers after countless requirements and restrictions. The timing has a certain symbolic power: the new construction is lame, the lack of living space is sometimes dramatic, and rents continue to rise. At the same time, quite a few project developers are filing for bankruptcy. A rare good time for any positive impulse! At the same time, the question remains: Will the package alone be enough to address the structural deficit in new construction? I think: unfortunately hardly. To do this, the federal government would have to take a much bigger leap, for example by abolishing or capping the burdensome real estate transfer tax. Unfortunately, this “hot potato” was not touched.
Managing Director
d.i.i. Homes