28.06.2016
Hypoport AG DE0005493365
DGAP-News: Hypoport AG: Brexit - demand for property will continue to rise
DGAP-News: Hypoport AG / Key word(s): Statement
Hypoport AG: Brexit - demand for property will continue to rise
28.06.2016 / 11:50
The issuer is solely responsible for the content of this announcement.
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Press release
Hypoport AG expects Brexit to have a positive impact on its business in the
medium term
Brexit: demand for property will continue to rise
Berlin, 28 June 2016: In the opinion of the Management Board of Hypoport
AG, the United Kingdom's exit from the European Union will not have a
negative impact on the business models of Hypoport, a provider of
technology-based financial services. It is far more likely that the
anticipated concentration of EU migrant workers in Germany and the flight
to German real estate by unsettled property investors will stimulate the
German lending market.
"Hypoport and our subsidiaries are not directly dependent on the UK,"
explains Ronald Slabke, Chief Executive Officer of Hypoport AG. "Neither
our subsidiary Dr. Klein, our EUROPACE financial marketplace nor other
subsidiaries have business operations in the UK." No direct negative
effects are therefore in prospect. "Like many other experts, we expect
investors to increasingly withdraw from the UK and try their luck in other
economically interesting European markets," adds Slabke. "This should
further push up demand for property, especially in major German cities."
"What's more, EU migrant workers will increasingly head for Germany as
restrictions are expected to be imposed in the UK," believes Hypoport's
Chief Executive Officer. "This will also create more demand for housing -
adding to the already huge level of excess demand." Studies show that
around 400,000 new homes per year are currently required, but only 250,000
or so are being built. "These factors support our mortgage finance
business. And, there are no indicators for a sudden rise in interest rates,
which means conditions for mortgage finance remain excellent."
Slabke also thinks that Brexit will generally be positive for Germany as a
whole: "Although nobody can yet reliably predict all of the consequences of
Brexit, the expected additional investment in Germany as a safe haven is of
course welcome. I also believe that Brexit will be good for Germany in
other respects, at least in the short term. The pressure on the euro is
strengthening the German economy, and the UK's departure gives further
weight to Germany's role as the economic centre of the EU."
About Hypoport AG
The Hypoport Group is a technology-based financial service provider. The
business model is based on its three mutually supporting business units:
Private Clients, Financial Service Providers, and Institutional Clients.
All three units are engaged in the distribution of financial services,
facilitated or supported by finance-technology ('fintech').
As a wholly-owned subsidiary of Hypoport, Europace AG develops and operates
the web-based EUROPACE financial marketplace, which is Germany's largest
platform for mortgages, building finance products and personal loans. A
fully integrated system links more than 350 partners - banks, insurers and
financial product distributors. Several thousand users execute some 35.000
transactions worth a total of up to EUR4 billion on EUROPACE every month.
The Hypoport subsidiary Dr. Klein & Co. AG is an independent online
distributor of financial products. This firm's specialists provide private
clients with a full range of advisory services around mortgage finance,
insurance and retirement planning. Dr. Klein & Co. AG has been a major
financial service partner to housing companies and commercial property
investors since 1954. Hypoport AG is headquartered in Berlin, employs more
than 500 people and is listed in the Prime Standard of the Frankfurt Stock
Exchange. At the end of 2015 Hypoport was admitted to the SDAX.
Contact:
Michaela Reimann
Head of Corporate Communications
Hypoport AG
Klosterstraße 71
D-10179 Berlin
Phone: +49 (0) 30 / 4 20 86 - 1936
E-Mail: [email protected]
Internet: www.hypoport.de
Twitter: http://twitter.com/Hypoport
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28.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Hypoport AG
Klosterstraße 71
10179 Berlin
Germany
Phone: +49/30 42086-0
Fax: +49/30 42086-1999
E-mail: [email protected]
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart
End of News DGAP News Service
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475053 28.06.2016
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