The real estate boom in Germany has helped the owners of houses or condos in the past few years, a sharp rise in their assets. In the case of the owner of the house, the net assets of 2017, was hold in 277.000 € 37,200 Euro more than in 2014. In the case of a tenant house amounted to the average keep only 10.400 Euro. “In particular, the net assets of the real estate owners have increased in consequence of the rise in real estate prices”, – stated in the monthly report of the Bundesbank.
However, only 44 percent of the private households in Germany own residential property. To many people the real estate boom will pass. In other countries in the Euro area, in Italy or Spain, the rate of property owners with least about 70, or about 80 percent, significantly higher.
Nevertheless, the assets of private households increased by a total of between 2014 and 2017, on a broad Basis, as the Bundesbank study. Accordingly, the average net assets increased by about nine percent to about 232.800 Euro. Many of the tenants of the house hold and house the poorer sections of the population, half of the keep were mainly higher income is behind the growth. As before, the assets to be distributed, but very unequally.
West households on average had significantly richer than Eastern households
The Bundesbank, according to 2017, the richest ten percent of households, about 55 percent of the total net assets. 2014, down from 60 percent in 2010 and 2011 down to 59 percent. The Bundesbank warned of this development a Trend. In 2017, those involved in comparison to previous studies less very households of the survey.
The inequality is especially evident in comparison with the so-called Median, which divides the households into richer and poorer half. This was in 2017 with a net assets at 70,800 euros. The investigation also includes large differences between West and East Germany. Households in the East had 2017 in the Mediterranean only a wealth of 23,400 Euro. In the West of Germany there were, however, with 92.500 Euro to four times as much. “This is the lower proportion of home-owners is believed to play in the new länder a role,” write the study authors.