Pfandbrief banks demand: abolish property transfer tax

2023-12-07 17:05:40

The Pfandbrief banks are calling for more commitment to housing construction. Image: dpa

The German Pfandbrief banks want more efforts in housing construction, especially less regulation. The abolition of capital buffers and property transfer tax, but also interest subsidies, are under discussion.

The real estate crisis seems to have Germany firmly under control. The Association of German Pfandbrief Banks VDP was cautiously optimistic at its annual press conference on Wednesday evening. The mood on the market is not friendly, bankruptcies have their effects and transaction activity is low, said Bayern LB board member Georg Bergmann, president of the association since June. However, the crisis will reach its climax next year, and the situation is relaxed for the Pfandbrief banks because they are fundamentally the first to finance. The Pfandbrief market is robust despite a significantly lower issue volume and has coped well with the ECB’s withdrawal now that real investors have returned.

Bergmann sees housing policy as a central concern, especially because of its explosive social impact in the face of a shortage of supply due to the high level of immigration to Germany. Not only politicians are required, but also banks and financing partners. But the way is still long. General Manager Jens Tolckmitt made it clear what the association wants in this regard. The federal government’s 14-point plan is welcomed, but so far the measures are only on paper.