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The ‘Principal Pays’ Principle in Real Estate Brokerage
  • Michael Voigtländer ·
  • IW-Trends No. 1 ·
  • 26 February 2019

International Practice and Economic Effects: The ‘Principal Pays’ Principle in Real Estate Brokerage

The political debate on how to ease the tight housing markets in Germany has seen a proposal to introduce the ‘principal pays’ principle for real estate purchases. This means that, in future, estate agents will only be paid commission by those who engage them, which is usually the seller.
European Best Practices
  • Michael Voigtländer at Intereconomics ·
  • External Publications ·
  • 12 February 2019

Homebuyers, Liquidity Constraints and Private Market Solutions: European Best Practices

Even though the cost for owner-occupied homes fell sharply in the last years, homeownership rates in the EU remain sluggish. Sound economic policy would promote homeownership especially as rents are on the rise. Policies that facilitate schemes such as equity release options, housing saving plans and crowdlending seem promising.
Homesharing in the German federal state of North Rhine - Westphalia
  • Vera Demary ·
  • IW-Report No. 3 ·
  • 14 January 2019

Homesharing in the German federal state of North Rhine - Westphalia

A professional, continuous short term letting of accommodation via home sharing platforms like Airbnb can lead to a reduction of housing space and therefore intensify housing shortages.
Impact of housing market transformation in Germany on affordable housing
  • Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment ·
  • External Publications ·
  • 4 January 2019

The case of North Rhine-Westphalia: Impact of housing market transformation in Germany on affordable housing

The German housing market has changed significantly since the first decade of the new millennium. A considerable amount of public sector and company-owned employee housing has been sold off, while a number of large publicly listed real estate firms have emerged. This has been particularly evident in North Rhine-Westphalia.
Recommendations for Increasing Investment in Climate Protection
  • Ralph Henger / Petrik Runst / Michael Voigtländer ·
  • IW-Analyse No. 119 ·
  • 7 December 2017

Recommendations for Increasing Investment in Climate Protection

Germany has set itself ambitious goals for climate protection in its buildings, with the building stock expected to be almost climate-neutral by 2050. This will require extensive refurbishment of almost all residential and commercial properties.
A Risk Assessment for Residential Property Financing in Germany
  • Daniel Bendel / Michael Voigtländer ·
  • IW-Trends No. 4 ·
  • 11 January 2017

A Risk Assessment for Residential Property Financing in Germany

Wie die Erfahrungen der Finanzkrise gezeigt haben, können Kreditausfälle die Finanzstabilität erheblich gefährden. Angesichts der steigenden Preise und niedrigen Zinsen wird besonders die Entwicklung der Kreditvolumina kritisch betrachtet. Jedoch wird auf Basis eines empirischen Modells deutlich, dass sich die Kreditvolumina deutlich schwächer entwickeln, als dies angesichts der Rahmenbedingungen zu erwarten gewesen wäre.
A high financial burden for German home buyers
  • Michael Voigtländer ·
  • IW-Kurzbericht No. 72 ·
  • 4 November 2016

A high financial burden for German home buyers

Home buyers in Germany not only have to pay high down payments for financing their property, but they also have to pay high transaction costs. Besides the transaction tax, also notary fees and the entry in the land register sum up to a considerable amount. The cases of the Netherlands and the United Kingdom illustrate that high transaction costs are not a necessity.
A Hedonic Rent Index for Student Housing in Germany
  • Philipp Deschermeier / Björn Seipelt ·
  • Expertise ·
  • 4 October 2016

A Hedonic Rent Index for Student Housing in Germany

This survey, produced for Deutsche Real Estate Funds in cooperation with ImmobilienScout24, compares and analyses price developments in 15 metropolitan and student cities in Germany.
A Hedonic Rent Index for Student Accommodation
  • Philipp Deschermeier / Björn Seipelt ·
  • IW-Trends No. 3 ·
  • 30 September 2016

A Hedonic Rent Index for Student Accommodation

The number of students has rapidly risen throughout the past years – as have prices for student housing. In order to systematically measure the price developments, the Cologne Institute for Economic Research and Deutsche Real Estate Funds have developed a conclusive Rent Index for Student Accommodation.
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