Cranes work behind new apartment buildings in Frankfurt’s Europaviertel. The industry is preparing for falling real estate prices.
(Photo: dpa)
Frankfurt The increase in real estate prices in Germany has slowed down drastically year-on-year in view of rising interest rates and inflation. According to preliminary data from the Federal Statistical Office on Thursday, residential real estate prices rose more slowly in the third quarter than they have in seven years.
From July to September, they increased by an average of 4.9 percent compared to the same period last year, as the Federal Office announced. In the second quarter there was an almost twice as strong increase of 9.7 percent, in the first quarter the increase was still 11.6 percent. Compared to the previous quarter, apartments and detached and semi-detached houses were even 0.4 percent cheaper on average in the third quarter.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue