Housing Index in Germany increased to 218.58 points in May from 217.43 points in April of 2025. This dataset provides the latest reported value for - Germany House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average price of detached and duplex houses in the biggest cities in Germany varied between approximately ***** euros and 10,000 euros per square meter in 2024. Housing was most expensive in Munich, where the square meter price of houses amounted to ***** euros. Conversely, Berlin was most affordable, with the square meter price at ***** euros. How have German house prices evolved? House prices maintained an upward trend for more than a decade, with 2020 and 2021 experiencing exceptionally high growth rates. In 2021, the nominal year-on-year change exceeded 10 percent. Nevertheless, the second half of 2022 saw the market slowing, with the annual percentage change turning negative for the first time in 12 years. Another way to examine the price growth is through the house price index, which uses 2015 as a base. At its peak in 2022, the German house price index measured about *** percent, which means that a house bought in 2015 would have appreciated by ** percent. Is housing affordable in Germany? Housing affordability depends greatly on income: High-income areas often tend to have more expensive housing, which does not necessarily make them unaffordable. The house price to income index measures the development of the cost of housing relative to income. In the first quarter of 2024, the index value stood at ***, meaning that since 2015, house price growth has outpaced income growth by about ** percent. Compared with the average for the euro area, this value was lower.

House Price Index YoY in Germany increased to 2.80 percent in May from 2.70 percent in April of 2025. This dataset includes a chart with historical data for Germany House Price Index YoY.

Graph and download economic data for Real Residential Property Prices for Germany (QDER628BIS) from Q1 1970 to Q4 2024 about Germany, residential, HPI, housing, real, price index, indexes, and price.

The house price index in Germany increased steadily from 2016 to 2022, followed by a decline until the first quarter of 2024. The index amounted to 100 in 2015 and, at its peak in the second quarter of 2022, exceeded 166 index points, meaning that house prices had risen by 66 percent during that period. Among the leading residential real estate markets in Germany, Munich had the highest square meter price for apartments.

The nominal price of residential properties in Germany in the fourth quarter of 2024 showed a modest increase of **** percent. This marks a recovery from previous declines, as the annual house price growth had turned negative in the earlier quarters of 2023, where house prices fell by over ** percent. Adjusted for inflation, the decrease was also noted at ***** percent in the fourth quarter of 2024. This trend could be observed across the major German cities.

Key information about House Prices Growth

• Germany house prices dropped 0.7% YoY in Sep 2024, following a decrease of 2.5% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2001 to Sep 2024, with an average growth rate of 2.2%.
• House price data reached an all-time high of 12.8% in Sep 2021 and a record low of -10.3% in Sep 2023.

Residential Property Prices in Germany increased 1.94 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Germany Residential Property Prices.

The German residential real estate market, valued at €372.77 million in 2025, exhibits robust growth potential, projected to expand at a CAGR exceeding 3.06% from 2025 to 2033. This growth is fueled by several key drivers. A consistently strong economy, coupled with increasing urbanization and population density, particularly in major cities like Berlin, Munich, and Hamburg, creates significant demand for housing. Furthermore, government initiatives aimed at improving housing affordability and sustainable construction practices are contributing positively to market expansion. However, challenges remain. Limited land availability in desirable urban areas, coupled with rising construction costs and stringent building regulations, act as constraints on supply. The market segmentation reveals a preference for condominiums and apartments in urban centers, while villas and landed houses maintain a significant presence in suburban and rural areas. Competition among established players like Vonovia SE, Deutsche Wohnen SE, and LEG Immobilien SE, alongside a growing number of smaller developers, is intense. Regional variations are evident, with North Rhine-Westphalia, Bavaria, and Baden-Württemberg representing the most significant market shares due to their strong economies and population centers. The forecast period (2025-2033) anticipates a continued upward trajectory, although the pace of growth may fluctuate depending on macroeconomic conditions and policy interventions. The increasing adoption of smart home technologies and sustainable building materials will likely shape future market trends. The ongoing focus on improving energy efficiency in existing buildings presents further opportunities for market players. Successfully navigating the balance between meeting rising demand and mitigating the impact of regulatory hurdles and rising costs will be crucial for long-term market success. This requires developers to adopt innovative construction techniques and explore alternative housing solutions to address the ongoing affordability challenges. Key drivers for this market are: Strong Demand and Rising Construction Activities to Drive the Market, Rising House Prices in Germany Affecting Demand in the Market. Potential restraints include: Weak economic environment. Notable trends are: Strong Demand And Rising Construction Activities To Drive The Market.

Germany - House price index was -0.70% in September of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Germany - House price index - last updated from the EUROSTAT on June of 2025. Historically, Germany - House price index reached a record high of 12.80% in September of 2021 and a record low of -10.30% in September of 2023.

In 2023, the German house price index was almost 149.2 percent, based on preliminary figures. This was an increase of around 49 percent compared to the index year of 2015.

In Q4 2024, the real estate price index in Germany was 185. This means that prices rose by 85 percent compared to the baseline of Q1 2004. This was virtually unchanged from the previous year.

Germany House Price Index: Existing Residential Properties data was reported at 129.900 2010=100 in Dec 2016. This records an increase from the previous number of 127.700 2010=100 for Sep 2016. Germany House Price Index: Existing Residential Properties data is updated quarterly, averaging 101.950 2010=100 from Mar 2000 (Median) to Dec 2016, with 68 observations. The data reached an all-time high of 129.900 2010=100 in Dec 2016 and a record low of 97.000 2010=100 in Mar 2007. Germany House Price Index: Existing Residential Properties data remains active status in CEIC and is reported by Statistisches Bundesamt. The data is categorized under Global Database’s Germany – Table DE.EB003: House Price Index: 2010=100. Rebased from 2010=100 to 2015=100 Replacement series ID: 388473217

Germany DE: Standardised Price-Income Ratio: sa data was reported at 88.538 Ratio in 2024. This records a decrease from the previous number of 93.578 Ratio for 2023. Germany DE: Standardised Price-Income Ratio: sa data is updated yearly, averaging 95.901 Ratio from Dec 1980 (Median) to 2024, with 45 observations. The data reached an all-time high of 146.141 Ratio in 1981 and a record low of 76.343 Ratio in 2010. Germany DE: Standardised Price-Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Germany – Table DE.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

Key information about Germany Nominal Residential Property Price Index

• Germany Nominal Residential Property Price Index was reported at 172.000 2010=100 in Sep 2024.
• This records an increase from the previous number of 171.400 2010=100 for Jun 2024.
• Germany Nominal Residential Property Price Index data is updated quarterly, averaging 98.523 2010=100 from Mar 1970 to Sep 2024, with 219 observations.
• The data reached an all-time high of 194.600 2010=100 in Jun 2022 and a record low of 37.619 2010=100 in Mar 1970.
• Germany Nominal Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Nominal Residential Property Price Index: 2010=100: Quarterly.

House price index in Germany, December, 2024 The most recent value is 173.2 index points as of Q4 2024, an increase compared to the previous value of 172.6 index points. Historically, the average for Germany from Q1 1990 to Q4 2024 is 115.96 index points. The minimum of 84.68 index points was recorded in Q1 1990, while the maximum of 194.6 index points was reached in Q2 2022. | TheGlobalEconomy.com

In 2024, Munich in Bavaria had the most expensive houses among the German cities listed, typically costing around 1.6 million euros. By comparison, Bremen and Magdeburg had significantly lower prices, at 335,000 and 300,000 euros respectively.

The house price to income ratio in Germany in the first quarter of 2024 declined notably from its peak in 2022. The ratio measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. Germany's index score in the first quarter of 2024 amounted to 109.7, which means that house price growth had outpaced income growth by about 10 percent since 2015. This was below the average house price to income area in the Euro area 16.

From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive overheating of the housing market. To assess the vulnerability of the German housing market to a future realignment or housing bust that may pose a threat to financial stability, this paper develops a housing price misalignment indicator that is composed of seven indicators, which are commonly associated with the fundamental value of residential property. An empirical application to the most recent data suggests that the German housing market exhibits an overvaluation of 11.3%, where interest rate risk and a relatively advanced stage of the housing cycle are identified as the main factors fueling these imbalances, while a rather solid debt-servicing capacity mitigates these imbalances since end-2009.

Key information about Germany Gold Production

• Germany Real Residential Property Price Index was reported at 126.618 2010=100 in Sep 2024.
• This records a decrease from the previous number of 126.634 2010=100 for Jun 2024.
• Germany Real Residential Property Price Index data is updated quarterly, averaging 124.439 2010=100 from Mar 1970 to Sep 2024, with 219 observations.
• The data reached an all-time high of 160.595 2010=100 in Dec 2021 and a record low of 99.134 2010=100 in Mar 2010.
• Germany Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]