In many regions in Germany, people are concerned about the fall in house prices. Where houses are in demand, prices will rise again at some point.
Image: dpa
The price decline for German real estate continues, new data shows. A FAZ survey among real estate agents reveals where this is particularly strong. What buyers and sellers need to know now.
DThe fall in house prices in Germany continues. The Association of German Pfandbrief Banks (VDP) reported its figures for the fourth quarter of 2023 on Monday: According to this, real estate prices fell by an average of 7.2 percent over the year. This meant another decline of 2.2 percent compared to the previous quarter. Compared to the peak in spring 2022, this was a price drop of 10 percent.
“A turnaround in real estate prices, which is often the subject of public speculation, is not yet foreseeable,” said association managing director Jens Tolckmitt. Both residential and commercial properties continued to fall in price. Over the year, the price decline for residential properties was 6.3 percent in Munich, 6.1 percent in Frankfurt, 5.3 percent in Stuttgart, 5.2 percent in Hamburg and 5.1 percent in Berlin.
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