11. August 2020, 14:38
The prices of the residential properties offered for sale in Germany as a whole – with the exception of the ten cities of Berlin, Bremen, Dresden, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Leipzig, Munich and Stuttgart – have remained constant over the past week. They are still slightly above the current annual mean.
At the same time, comparatively few apartments are currently still being offered for sale. The corresponding indices are 84 for Germany and 85 for the 10 large cities, i.e. 16% and 15% below the base value 100.
Volatile big cities
The markets in the ten major cities analyzed, on the other hand, are extremely volatile. The prices of the residential properties offered there have fallen and have fallen to a level of over 4,800 euros / m². The offers were thus lower than they had been since the beginning of July. Although they are below the current annual average of approx. 5,000 euros / m², they are still well above the prices of the first quarter of 2020. There, cyclical fluctuations of below 4,500 euros / m² were measured.
Prices in cities are likely to recover
The overall view of these individual movements on the purchase market suggests that the prices of the properties offered in the cities will recover again. The movements still seem to be explainable with cyclical behavior during the summer holidays. The SprengnetterONE index, which reads out the number of valuations carried out, also shows fluctuations caused by the summer slump. Regardless of this, the Sprengnetter analysis team will continue to monitor this development very closely.
Rental market much more stable
In contrast, the rental market is clearly more stable. Both in the ten large cities and in Germany as a whole, the rents offered have remained almost constant compared to the values from the previous week. The number of rental apartments on offer also continues at a high or average level. The indices here are 102 for Germany and 98 for the 10 large cities (base = 100).