The asking prices have also fallen in the most expensive German city.
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Dusseldorf There is a clear trend: In almost all major German cities there were price reductions for existing apartments in the third quarter, reports the real estate portal Immowelt on Wednesday. After falling real estate prices had already been observed in seven cities in the second quarter, things have now gone down in twelve of the 14 largest German cities.
With regard to the largest cities in Germany, it is the second decline in a row for Munich, Düsseldorf and Cologne, and prices in Hamburg, Frankfurt, Stuttgart and Hanover also fell for the first time. In Berlin, prices have recently stagnated.
According to Immowelt, purchase prices fell in six cities from the first to the second quarter of 2022. From the fourth quarter of 2021 to the first quarter of 2022, none of the 14 cities had even recorded a decline.
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