Graph and download economic data for Real Residential Property Prices for Germany (QDER628BIS) from Q1 1970 to Q3 2024 about Germany, residential, HPI, housing, real, price index, indexes, and price.

The average price of detached and duplex houses in the biggest cities in Germany varied between approximately 4,500 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 9,806 euros. Conversely, Berlin was most affordable, with the square meter price at 4,512 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 166 percent, which means that a house bought in 2015 would have appreciated by 66 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 110, meaning that since 2015, house price growth has outpaced income growth by about 10 percent. Compared with the average for the euro area, this value was lower.

The nominal price of residential properties in Germany in the fourth quarter of 2022 declined for the first time in 12 years. After peaking at nearly 13 percent in 2021, the annual house price growth turned negative, and in the third quarter of 2023, house prices fell by over 10 percent. Adjusted for inflation, the decrease was even stronger, at 15 percent. In the following months, the decline continued, but at a slower rate. This trend could be observed across the major German cities.

House Price Index YoY in Germany remained unchanged at 3.70 percent in January. This dataset includes a chart with historical data for Germany House Price Index YoY.

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.

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.

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.

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]

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.

Prices in Berlin, Germany, increased for both newly built and existing houses in 2023. In the fourth quarter of 2023, newly built houses sold for four percent higher than in the same period in 2022. Conversely, prices for existing apartments declined by 6.1 percent. In Germany's top five markets, newly built houses experienced the highest price growth.

Key information about Germany Nominal Residential Property Price Index Growth

• Germany Nominal Residential Property Price Index Growth was reported at -0.750 % in Sep 2024.
• This records an increase from the previous number of -2.447 % for Jun 2024.
• Germany Nominal Residential Property Price Index Growth data is updated quarterly, averaging 2.602 % from Mar 1971 to Sep 2024, with 215 observations.
• The data reached an all-time high of 12.774 % in Sep 2021 and a record low of -10.254 % in Sep 2023.
• Germany Nominal Residential Property Price Index Growth 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: YoY %.

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.

House prices in Germany rose by about 12 percent in 2021 but price growth is forecast to slow down until 2024. According to a report by the Deutsche Bundesbank, the German housing market is set to experience a 1.2 percent increase in the average house price in 2023 and 3.2 percent increase in 2024. According to the source, despite higher construction costs, financing costs, and overall economic uncertainty, the high housing demand alongside insufficient supply are likely to continue to drive prices up. Residential real estate prices in the largest cities have grown substantially since 2012. In Munich - Germany's most expensive residential market - the square meter price reached almost 11,000 euros per square meter in 2022.

Germany House Price Index: Newly Created Residential Real Estate data was reported at 127.900 2010=100 in Dec 2016. This records an increase from the previous number of 125.400 2010=100 for Sep 2016. Germany House Price Index: Newly Created Residential Real Estate data is updated quarterly, averaging 92.750 2010=100 from Mar 2000 (Median) to Dec 2016, with 68 observations. The data reached an all-time high of 127.900 2010=100 in Dec 2016 and a record low of 86.000 2010=100 in Mar 2007. Germany House Price Index: Newly Created Residential Real Estate 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: 388473207

Germany DE: Standardised Price-Income Ratio: sa data was reported at 93.521 Ratio in 2023. This records a decrease from the previous number of 108.353 Ratio for 2022. Germany DE: Standardised Price-Income Ratio: sa data is updated yearly, averaging 97.264 Ratio from Dec 1980 (Median) to 2023, with 44 observations. The data reached an all-time high of 146.052 Ratio in 1981 and a record low of 76.297 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.

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.

Germany DE: House Price Index: Nominal: sa data was reported at 148.763 2015=100 in 2023. This records a decrease from the previous number of 162.566 2015=100 for 2022. Germany DE: House Price Index: Nominal: sa data is updated yearly, averaging 82.843 2015=100 from Dec 1970 (Median) to 2023, with 54 observations. The data reached an all-time high of 162.566 2015=100 in 2022 and a record low of 32.792 2015=100 in 1970. Germany DE: House Price Index: Nominal: 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. Whole country; Seasonnally adjusted by OECD, using the X-12 ARIMA method; Residential property prices, sales of newly-built and existing dwellings, all types of dwellings The source is the same as the OECD Residential Property Price Indices (RPPIs) - Headline indicators database. For the past period, the indicator into this dataset is based on 125 main cities, for the annual value. Sales

The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly 97 percent in Romania or around 90 percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up 65 percent and 72 percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

Prices in Frankfurt, Germany, increased for both newly built and existing houses in 2023. In the fourth quarter of 2023, newly built houses sold three percent higher than in the same period in 2022. Conversely, prices for existing apartments declined by nine percent. In Germany's top five markets, newly built houses experienced the highest price growth.

The Prefabricated Houses Market in Germany is Segmented by Type (Single-family and Multi-family). The market size and forecasts for Germany Prefabricated Housing Market are provided in terms of Value (USD).