According to an RICS survey, Germany continues to be rated as expensive (55 percent) and very expensive (28 percent) as a real estate investment location.
(Photo: dpa)
Frankfurt According to data from the Association of German Pfandbrief Banks (vdp), the boom on the German real estate market continued in the first quarter despite the war in Ukraine. Overall, the prices for real estate in the first quarter of 2022 rose by 8.8 percent within a year, the vdp announced on Tuesday.
In the case of residential property, the price increase is even 10.7 percent. The prices for commercial real estate, on the other hand, only increased by 1.8 percent. Overall, the association’s real estate price index reached a new high of 190.8 points.
“The real estate market in Germany is still on the up – even though the pandemic is still not over and Russia’s war of aggression against Ukraine was a highly worrying exogenous shock,” said vdp CEO Jens Tolckmitt.
Even if no effects on the real estate market can currently be seen, it remains to be seen how the second and third round effects will play out.
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