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.

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.

Graph and download economic data for Real Residential Property Prices for Germany (QDER368BIS) from Q1 1971 to Q4 2024 about Germany, residential, housing, real, and price.

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

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.

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.

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.

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.

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.

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.

The German residential real estate market, valued at €372.77 million in 2025, is experiencing robust growth, projected to expand at a CAGR exceeding 3.06% from 2025 to 2033. This growth is fueled by several key factors. Strong urban population growth in major cities like Berlin, Hamburg, Munich, and Cologne, coupled with increasing household formations and a persistent shortage of housing, particularly in the rental sector, are driving demand. Government initiatives aimed at increasing affordable housing options, while well-intentioned, are struggling to keep pace with the rapid growth. Furthermore, low-interest rates in recent years have stimulated investment in the sector, further contributing to market expansion. However, challenges remain. Strict building regulations and lengthy approval processes can hinder new construction, creating supply constraints. Additionally, rising construction costs and material prices pose a significant challenge, potentially impacting profitability and affordability. The market is segmented by property type (villas and landed houses, condominiums and apartments) and geographically across key cities, reflecting varied market dynamics across different regions. Major players like Vonovia SE, Deutsche Wohnen SE, and LEG Immobilien SE dominate the market, but smaller, regional companies also play a crucial role. The forecast period (2025-2033) anticipates continued, albeit potentially moderated, growth. While the CAGR of 3.06% provides a baseline, it's likely that specific growth rates will fluctuate yearly depending on macroeconomic conditions, interest rate changes, and government policy adjustments. The market segment for condominiums and apartments is expected to maintain a larger share due to higher population density in urban centers and higher demand for rental properties. The ongoing demand, despite challenges, positions the German residential real estate market as a promising sector for long-term investment, albeit with inherent risks associated with regulatory changes and economic fluctuations. The ongoing interplay between supply, demand, and regulatory frameworks will significantly shape the market's trajectory in the coming years. This comprehensive report provides an in-depth analysis of the Germany residential real estate market, covering the period from 2019 to 2033. With a base year of 2025 and a forecast period extending to 2033, this study offers invaluable insights for investors, developers, and industry stakeholders navigating the complexities of the German housing sector. The report utilizes data from the historical period (2019-2024) to create a robust and reliable forecast. Keywords: German real estate market, German housing market, German property market, residential real estate Germany, Berlin real estate, Munich real estate, Hamburg real estate, Cologne real estate, German property prices, German real estate investment. 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.

Source Code: Q:DE:N:628

Coverage includes all types of owner occupied new and existing dwellings in the whole country.

For more information, please see https://www.bis.org/statistics/pp_detailed.htm.

Any use of the series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

Germany - House price index was 3.80% in March of 2025, 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 July of 2025. Historically, Germany - House price index reached a record high of 12.80% in September of 2021 and a record low of -10.20% in September of 2023.

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 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.

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

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]

Source Code: Q:DE:R:628

Coverage includes all types of owner occupied new and existing dwellings in the whole country. The series is deflated using CPI.

For more information, please see https://www.bis.org/statistics/pp_detailed.htm.

Any use of the series shall be cited as follows: "Sources: National sources, BIS Residential Property Price database, http://www.bis.org/statistics/pp.htm."

Copyright, 2016, Bank for International Settlements (BIS). Terms and conditions of use are available at http://www.bis.org/terms_conditions.htm#Copyright_and_Permissions.

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 ** percent in Romania or around ** percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up ** percent and ** 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.

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.