2023-08-16 14:53:37
New building in Bonn
New business with private real estate loans increased slightly in June compared to May and April. However, it was about 40 percent below the June 2022 level.
(Photo: dpa)
Frankfurt There are signs that the construction financing business is picking up again in small steps. According to data from the Bundesbank, the volume of newly granted construction loans rose to around 14 billion euros in June. In May, the banks granted private real estate loans amounting to 13.7 billion euros, in April 13 billion euros.
Tomas Rederer, partner at the auditing and consulting firm PwC, also describes the current development as a “slight recovery”. Because, as explained in a PwC analysis: “Normally – in line with the long-term average of the past ten years – new business does not increase in the second quarter.” Now, however, “the turning point here has come a little earlier than we had previously expected “.
The savings banks are also noticing a stabilization in construction financing, as a recent survey of savings bank managers revealed, and Commerzbank also registered an upturn in business in the second quarter.
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