homeownership rates: After years of economic stability, weathering storms that sunk other countries, you might expect the German homeownership ship to finally be setting sail, but the opposite is true, according to Deutsche Welle. It's striking Germany is one of Europe's wealthiest nations, but we have very low homeownership rates, housing specialist Pekka Sanger from the German Economic Institute, told DW, pointing to a strong social net and pension system that meant there was little need to buy housing in the past. The Federal Bureau for Statistics published figures on Tuesday that, at the start of 2018, nearly half of households can call their house their own. Read more German churches are increasingly selling off property, study finds Watch video Share ; DW PLAYER.localization rewind Back 10 seconds settings Settings hd Quality fullscreen Full screen cc Closed captions next Up Next up playlist Playlist pause Pause play Play player Video player prev Previous next Next close Close replay Replay volume Volume ; Share Poor little rich Germany Send Facebook Twitter google Whatsapp Tumblr linkedin stumble Digg reddit Newsvine Permalink little rich Germany Other factors that have historically fueled rental demand include high interest rates, demands for huge deposits from banks and a cultural stigma against debt there is no word for mortgage in the German language linked to historical events like hyperinflation in the 1920s and the postwar rebuilding of the country. Interest rates have dropped from 4.33% to 1.65% in a decade. Priced out despite low interest rates These days, low interest rates and an urge not to be crowded out of the housing market mean that it makes sense to buy in many German cities.
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