In the land of home builders, fewer loans are being granted. People are becoming more cautious when building or buying a house or apartment.
Stuttgart (dpa / lsw) – The granting of real estate loans by the Baden-Württemberg savings banks is falling sharply as a result of inflation and rising construction prices. In September almost 700 million euros in loans were granted, in August it was 904 million euros, as savings bank president Peter Schneider announced. For comparison: In January of this year, loans of 1.19 billion euros were still granted.
Schneider said there was extraordinarily strong demand for home loans at the start of the year given the frequent reports of expectations of rising interest rates. “We experienced a pull-forward effect. Everyone who had specific credit financing in mind wanted to secure the lowest possible interest rates.” In the meantime, lending in the real estate sector has cooled down significantly, but it has by no means come to a standstill.
In total, the 50 savings banks in Baden-Württemberg had loans of over 160.4 billion euros on their books at the end of September. That is 11.3 billion euros more than at the end of September 2021. According to the information, loans to private individuals (76.2 billion euros) are balanced with loans to companies and the self-employed (76.1 billion euros). The other eight billion euros are loans to municipalities and others.
