A red “for sale” sign in Brandenburg has the note “sold” pasted over it. However, the demand for real estate for sale in Germany has recently collapsed significantly.
Photo: dpa
(Photo: dpa)
Frankfurt Unusual uncertainty has recently prevailed among German real estate buyers. Demand for houses and apartments stagnated or fell across Germany in view of the rapidly rising interest rates, as market observers reported. Will this trend continue in autumn? The answer given by the real estate portal Immoscout24 is clear. The slump in demand has therefore not worsened.
According to current data from the real estate portal, the situation in the top seven cities eased in the third quarter. “We can see that the purchasing market in Germany is functioning and that it is calming down, especially in the metropolises,” said Immoscout24 Managing Director Thomas Schroeter on Thursday when the figures were presented in Berlin.
The German real estate market thus seems to be recovering from the interest rate shock of the past few weeks and finding a new balance. In the second quarter, the real estate portals identified a trend reversal on the market. In the second quarter of 2022, for example, demand for real estate fell by 36 percent within a year.
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