MWith asking prices on the real estate market, that’s a thing. When Internet portals evaluate the prices at which houses and apartments are offered in advertisements, this does not always have to correspond exactly to the actual price development in the transactions, i.e. purchases and sales. Nonetheless, it is noteworthy that there are increasing signals from such sources that the rise in prices for residential real estate in Germany will not continue unabated. The Internet portal Immowelt reported on Tuesday that the offers in seven out of 14 observed major cities in the second quarter had not gone up with the prices of existing apartments. Prices remained stable in three major cities, while slight declines were observed in four others. In the previous quarter, all 14 cities had recorded rising purchase prices.
In Munich, for example, there was a slight drop in apartment prices to an average of EUR 9,551 per square meter. In Düsseldorf they fell by 1 percent to 5206 euros, in Leipzig also by 1 percent to 2693 euros. In Hanover they fell by 2 percent to 4019 euros. Prices remained stable in Frankfurt at EUR 6,554, Cologne at EUR 5,348 and Essen at EUR 2,954 per square metre. On the other hand, there were price increases in Berlin, Hamburg, Stuttgart, Nuremberg, Bremen, Dresden and Dortmund. The index of the credit brokerage platform Europace, which is based on construction financing actually brokered, had already signaled a slowdown in price dynamics for May – for all three segments, new single and two-family houses, existing houses and condominiums.