Last year as a whole was one of the most difficult for the German housing market. Apartments and houses have been getting cheaper at the fastest pace in the last 60 years. In 2023, prices for private houses for several owners fell by 20%, prices for apartments by 9%, prices for individual houses by 11%.
Last year's decline followed an equally unprecedented rally in the real estate market after the financial crisis of 2009. Growth then accelerated during the pandemic, and prices peaked in early 2022.
The German housing market is favorable for the buyer today. It's not a bad moment to look for an object in Munich, Dusseldorf or Berlin. Offers on the portal start from 43,500 euros for a studio in Oberhausen.
How to buy a property in Germany, we told you in great detail!
Source: Bloomberg
