News from the KfW on 28.11.22: - New building funding in...

News from the KfW on 28.11.22: - New building funding in the total amount of EUR 1bn will probably start as 1st of March 2023, not under the economy but under the construction minister. Focus will be a very high energy efficient level, only standard KfW 40 (meaning energy usage is 40% of a as standard defined house) will be promoted. - No promotion of the purchase of existing objects - Focus will be on renovations, staying with the economy minister, with a total amount of EUR 13 bn (!). - 650 million for others (building companies, cooperatives and better earners) - Little promotion of EUR 350mn is planned as of June 2023 for “emerging households”, families with 1 kid and below EUR 60.000 gross. A few statistics: - Per year 390.000 objects are bought, 197.000 by families with kids - The ownership quote has not risen by years and is currently at 46,3% - “New” objects, mainly purchased, are existing properties based on the price – 56%, 23% out of heritage, 21% new buildings - Preference is a stand alone house - from 2018-21 45%, 19% double houses, 17% appartments and 13% row houses The new support policy of home ownership has to be evaluated under the circumstances of: - Corona and Ukraine war, resulting in different frame conditions of higher energy costs, higher interest and high inflation - limits out of climate protection and available land