Residential property prices are rising faster and faster

Released on 24. 09. 2021

  • The Federal Statistical Office has figures on price indices for residential real estate in the 2nd quarter 2021 released. Photo: Oliver Berg

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The prices for residential real estate have not increased that much for more than ten years. According to the Federal Statistical Office, condominiums in particular increased in price.

Wiesbaden (dpa) – The price increase for residential real estate has accelerated. According to preliminary evaluations by the Federal Statistical Office, the so-called house price index in the second quarter was around 10, 9 percent above the value of the same quarter of the previous year.

It was the strongest increase since the beginning of the time series in the year 2000, as the Wiesbaden authority announced on Friday. In the first quarter of the current year, the purchase prices for apartments and one- and two-family houses had risen by an average of 8.9 percent within a year according to the latest calculations.

Real estate buyers had to pay significantly more in both cities and rural regions than in the second quarter 2020. Residential real estate rose particularly sharply again in the metropolises of Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf. One- and two-family houses there cost on average 14, 7 percent more than in the same quarter of the previous year. Condominium prices rose 10, 9 percent. The ancillary costs of a property purchase, e.g. brokerage costs, are not shown in the values.

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