Real estate market
IFW Kiel: Real estate drops have weakened
According to the research institute, sales prices fell in several cities last year. In Frankfurt and Leipzig, on the other hand, buyers paid more money for apartments.
The drop in the price of real estate in German cities last year weakened significantly. This emerges from an evaluation of the Kiel Institute for the World Economy (IFW), which leads the Greix real estate price index. The index contains data from 19 cities and the Rhein-Erft district near Cologne.
The sales prices of condominiums dropped by 1.5 percent last year without taking inflation into account compared to 2023. Against the trend, more money had to be paid for condominiums in Frankfurt (3.9 percent) and Leipzig (1.5 percent). With a decline of 4.9 percent, apartment prices in Hamburg fell most.
Prices of single -family houses fell nominal by 1.6 percent. There was a minus of three percent for apartment buildings.
Real estate expert: Market has left deep stalls behind
According to the index, urban real estate prices rose for years. After maximum values were reached in 2022, the greatest drop in price has occurred in 2023 since the start of the recording. The minus was nominal between 8.9 percent (condominiums) and 20.1 percent (multi -family houses) in the year.
“The German real estate market has left behind the absolute deep stalls since the break-in,” said IFW real estate expert Jonas Zdrzalek.
dpa
Source: Stern
