Photo: Gilly on UnsplashThe prices of houses and apartments in Germany are higher for the fifth quarter in a row by more than ten percent compared to the same period last year, but this growth is slowly slowing down, according to preliminary data from the Federal Statistical Office.
From April to June, apartment prices rose by an average of 10.2 percent compared to the same period last year, the State Bureau of Statistics announced. In the first quarter of this year, the increase in prices amounted to 11.6 percent, biznis.rs reports.
Compared to the previous quarter, the price increase of apartments and houses with one or two apartments in the second quarter amounted to 2.5 percent on average.
Statisticians recorded the highest price growth in sparsely populated, rural areas, where houses for one to two families went up by 13.6 percent compared to the second quarter of last year, and apartments by 11.7 percent.
In the leading metropolises, such as Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Dusseldorf, the prices of family houses jumped by 12.2 percent, and apartments by 10.6 percent compared to the same period last year.
In urban areas, there is a slight decrease in prices. There, the 7.8 percent home appreciation rate returned to single digits for the first time since the first quarter of last year. Real estate buyers had to shell out 7.3 percent more for apartments than at this time last year.
Due to higher interest rates, more expensive building materials and supply problems, experts expect a weakening of demand for real estate, which has been booming in Germany for more than ten years.
Especially due to high interest rates, there are more and more people who cannot afford to buy an apartment or house.
Source: biznis.rs
