Uncertainty led to a fall in property purchases of up to 30 percent

The real estate company sReal is currently seeing this trend. Rising interest rates, inflation and stricter lending rules depressed demand for real estate for the first time in ten years. “Since autumn 2022 there has been a decline in real estate transactions,” says sReal Managing Director Martina Hirsch. Sales have collapsed by up to 30 percent. The broker network Remax makes a similar assessment: in the previous year, almost ten percent were 50,472 condominiums