Prices for private properties in Germany continue to rise
Prices for apartments and houses in Germany on Monday continued to increase in the third quarter (Q3) of 2019, according to an evaluation by the Institute for Urban, Regional and Housing Research (GEWOS).
According to the institute, evaluation With average square metre prices of 2,030 euros (or 2,273 U.S. dollars), prices for freehold apartments in Germany went up 8.2 per cent compared to the previous year.
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GEWOS Managing Director, Carolin Wandzik, noted that the growth rate of private property prices had been undiminished for the third year in a row.
“In the seven largest German cities, there is no sign of the momentum slowing down either, in the cities of Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart.
“As well as Dusseldorf the offer prices for apartments even increased by 9 per cent within one year,” Wandzik said.
However, prices for individual houses in Germany also continued to climb rapidly.
The figures by GEWOS showed that prices of owner-occupied homes rose by 7.4 per cent in the third quarter of 2019.
According to the evaluation by GEWOS, square metre prices in new rental agreements on the other hand had only increased by 3.7 per cent on average.
Across Germany, property prices had been outpacing rents in recent years.
