Real estate prices continue to rise

In most areas of Germany, real estate prices have continued to rise. In the third quarter of this year, apartments and houses were on average 0.3 percent more expensive than in the previous quarter, as reported by the Federal Statistical Office. However, prices are no longer rising quite as quickly as before. In early summer, statisticians had calculated a price increase of 1.5 percent within one quarter. Real estate is still cheaper than it was a year ago. In the third quarter, prices were on average 0.7 percent below the comparable value from 2023.

The statistics also show larger regional differences. In sparsely populated rural districts, apartments cost 1.8 percent less than in early summer and even 5.7 percent less than a year ago. Houses were 2.1 percent cheaper than last year, while nothing changed in the short term.

Prices in major cities

In the major cities, prices rose in all categories. Apartments were 1.0 percent more expensive than in the second quarter of 2024 and 2.4 percent more expensive than a year ago. Buyers had to pay 0.2 percent more for houses than in 2023. In the short term, that is an increase of 1.5 percent.

In the seven largest cities of Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf, houses were surprisingly cheaper than a year ago (-5.3 percent) and than in the previous quarter (-3.1 percent). Prices for apartments, however, rose again by 0.5 percent within one quarter.