Housing Index in Germany decreased to 218.87 points in August from 219.06 points in July 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 decreased to 2.40 percent in August from 2.60 percent in July 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 Q1 2025 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.

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 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 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.

Residential Property Prices in Germany increased 3.81 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Germany Residential Property Prices.

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 September 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.

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. A consistently strong economy, coupled with increasing urbanization and a growing population, particularly in major cities like Berlin, Munich, and Hamburg, are driving demand for residential properties. Furthermore, government initiatives aimed at improving housing affordability and infrastructure development are contributing to market expansion. The market is segmented by property type (villas/landed houses, condominiums/apartments) and key cities, reflecting regional variations in price points and demand. Competition among major players like Vonovia SE, Deutsche Wohnen SE, and LEG Immobilien SE is intense, yet the market's overall growth provides opportunities for both established firms and new entrants. However, challenges such as rising construction costs, stringent building regulations, and limited land availability in desirable urban areas could potentially restrain growth in certain segments. The sustained demand, particularly in the rental sector, suggests a positive outlook for the long-term stability and profitability of the German residential real estate market. While specific data for historical periods is limited, the consistent 3.06% CAGR suggests a steady and predictable growth pattern. This allows us to extrapolate logical estimates. The concentration of large players indicates a well-established market with a healthy balance between supply and demand. While challenges exist, the underlying economic strength and demographic trends suggest that the market’s positive trajectory is likely to continue. The segmentation by property type and city allows for a nuanced understanding of market dynamics within different geographical locations and among different target consumer groups. This in turn permits tailored investment strategies to optimize returns and minimize risks associated with this dynamic sector. Recent developments include: May 2023: Vonovia and CBRE Investment Management agreed to sell five assets totaling 1,350 apartments in Berlin, Munich, and Frankfurt. Three of these properties are new constructions finished and operated in the rental category. The remaining two are under construction, with completion scheduled for the second and third quarters of 2023., January 2023: Vonovia, a German real estate corporation, invested in Gropyus, an Austrian developer of ecological dwellings. Vonovia, which has 1.5 million German citizens, will lead Gropyus' EUR 100 million (USD 106.79 million) series B investment to develop the latter's prefab manufacturing factory in Richen, Austria. FAM AB, a stakeholder in Gropyus, is also investing.. 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: Strong Demand and Rising Construction Activities to Drive the Market, Rising House Prices in Germany Affecting Demand in the Market. Notable trends are: Strong Demand And Rising Construction Activities To Drive The Market.

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 Germany Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Business Model (Sales and Rental), Mode of Sale (Primary and Secondary), and Key Cities (Berlin, Hamburg, Munich, Cologne, Frankfurt, Dusseldorf, Leipzig and Rest of Germany). The Market Forecasts are Provided in Terms of Value (USD).

View quarterly updates and historical trends for Germany House Price Index. Source: Eurostat. Track economic data with YCharts analytics.

View quarterly updates and historical trends for Germany House Price Index. Source: Federal Reserve Bank of Dallas. Track economic data with YCharts analy…

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

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.

The house price to rent ratio in Germany was ****** points in the first quarter of 2025. This is higher than the observation from the first quarter one year earlier, when the ratio had been ****** points.

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.

House prices in Germany rose by about ** 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 *** percent increase in the average house price in 2023 and *** 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 ****** euros per square meter in 2022.