In Tyrol, many potential home buyers have put their plans on hold. The reason for this is a massive slump in credit demand. The Corona pandemic has not only caused economic uncertainty, but has also changed many people’s life plans. In particular, saving for a down payment or uncertainty about whether one will keep a job in the long term have led to a sharp decline in home buying in Tyrol at present.
Experts are concerned that the drop in credit demand could have a negative impact on the real estate market and the economy as a whole. It cannot be ruled out that the current situation will worsen in the coming months unless measures are taken soon to make home buying in Tyrol more attractive.