A worker attaches a styrofoam plate for thermal insulation to a house facade in Lower Bavaria. But many houses in Germany have so far been poorly renovated in terms of energy efficiency.
(Photo: dpa)
Frankfurt The high energy prices are having an increasingly strong impact on the real estate market in Germany. According to an analysis by the real estate specialist Jones Lang LaSalle (JLL) and data from the real estate portal Immoscout24, the increased prices are even responsible for a “division in the housing market”.
What is meant by this is that buildings with a poor energy balance come onto the market with higher price reductions than energy-efficient properties. “The price reductions for energy-efficient apartment buildings are increasing,” confirms Sören Gröbel, Head of Research at JLL.
The trend reversal on the German real estate market with falling prices hits poorly renovated properties much harder than others. This is proven by a comparison of advertisements for the purchase of apartment buildings in the first half of 2021 – i.e. before the outbreak of the Ukraine war and the associated rapid increase in energy prices – with advertisements in the first half of 2022.
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