Low interest rates and a shortage of housing have been driving the real estate market for a long time. On average for 2021, residential real estate increased in price by 11.0 percent compared to the previous year.
The price increase for houses and apartments in Germany accelerated further last year.
On average for 2021, residential real estate increased in price by 11.0 percent compared to the previous year, according to preliminary figures from the Federal Statistical Office. A year earlier, according to the Wiesbaden authorities, prices had risen by 7.8 percent within a year.
Prices rose particularly sharply at the end of last year: in the period from October to December inclusive there was an average increase of 12.2 percent compared to the same quarter of the previous year. According to the Federal Office, this is the strongest price increase in residential property transactions since the time series began in 2000.
Real estate buyers had to pay significantly more in both cities and rural areas than a year earlier. Low interest rates and a shortage of housing have been driving the real estate market for a long time. The trend towards working from home during the Corona crisis has also boosted demand for living space in rural areas.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
