With low real estate prices and interest rates, Germany is certainly an interesting country in which to purchase property

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Real estate prices in Germany

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CategoryReal estate news

ChapterGlobal news

German real estate

At the German reunification in 1989 a significant number of people came from the East to settle in the West, where all the jobs were to be found. Germany was then forced to face an over supply of housing in the East. This phenomenon, associated with a low birth rate, created a German real estate crisis that started in the 1990's. In 10 years, house prices have dropped by 30 to 50%.

Only the major cities, such as Berlin, Hamburg, or Munich are experiencing rising real estate prices. In the posh areas of Munich, the m² price of an elegant apartment can reach 6,800 €/m². In rural areas however, prices are continuing to drop. In certain Länder, people have deserted cities and entire neighbourhoods.

With 42% of the population who own their home, the country has one of the lowest homeownership rates in Europe. Real estate agencies are few and far between; Germans prefer, for 56% of them anyway, real estate for sale by owner.

Updated on: 09/10/2008

And on the same subject:

The real estate market in Europe

2008-2014 Valoggia. Tous droits réservés

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