The prices for residential property in the spring have risen faster than at least since the beginning of the millennium. Between April and June they were on average 10.9 percent above the same quarter of the previous year, as the Federal Statistical Office announced on Friday. This is the biggest increase since the beginning of the time series in 2000. Apartments as well as single and two-family houses are on average 3.7 percent more expensive than the previous quarter. “Prices rose significantly in both cities and rural regions.” Despite the Corona crisis, there is currently no end to this development in sight.
Prices in the seven metropolises of Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf rose particularly sharply, as they have for years: the prices for single and two-family houses here rose by 14.7 percent, while the price of condominiums rose by 12.9 percent Percent. In the other urban districts, the prices for single and two-family houses rose by 11.9 percent within a year, condominiums cost 10.5 percent more. Even in sparsely populated rural districts, there was a noticeable increase in houses by 11.8 percent and in apartments by 9.2 percent.
The brokerage company Homeday has determined how high the rent burden is in German cities.