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.

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.

Housing Index in Germany remained unchanged at 216.89 points in February. 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 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.

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.

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 March 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.

Germany DE: House Price Index: Real: sa data was reported at 119.526 2015=100 in 2023. This records a decrease from the previous number of 139.441 2015=100 for 2022. Germany DE: House Price Index: Real: sa data is updated yearly, averaging 105.804 2015=100 from Dec 1970 (Median) to 2023, with 54 observations. The data reached an all-time high of 141.582 2015=100 in 2021 and a record low of 89.397 2015=100 in 2008. Germany DE: House Price Index: Real: 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 deflated using the private consumption deflator from the national account statistics. More information on the nominal house prices are available on the nominal house price indicators selection.

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]

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 %.

German commercial property prices grew by 7.6 percent from 2021 to 2022. Rentals with first-time moving in were around 3 percent more expensive. The table shows a comparison of commercial and residential real estate rent and prices in Germany in 1990 and 2022.

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 UK housing market continued to show significant regional variations in 2024, with London maintaining its position as the most expensive city for homebuyers. The average house price in the capital stood at 519,579 British pounds in October, nearly double the national average of 292,059 British pounds. However, the market dynamics are shifting, with London experiencing only a modest 0.2 percent annual increase, while other cities like Newcastle upon Tyne and Belfast saw more substantial growth of 8.8 percent and 6.8 percent respectively. Affordability challenges and market slowdown Despite the continued price growth in many cities, the UK housing market is facing headwinds. The affordability of mortgage repayments has become the biggest barrier to property purchases, with the majority of the respondents in a recent survey citing it as their main challenge. Moreover, a rising share of Brits have reported affordability as a challenge since 2021, reflecting the impact of rising house prices and higher mortgage rates. The market slowdown is evident in the declining housing transaction volumes, which have plummeted since 2021. European context The stark price differences are mirrored in the broader European context. While London boasts some of the highest property prices among European cities, a comparison of the average transaction price for new homes in different European countries shows a different picture. In 2023, the highest prices were found in Austria, Germany, and France.

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.

The average transaction price for the purchase of new residential properties increased in the main cities in Germany between 2016 and 2021. Afterward, prices they stabilized and slightly decreased in 2023. By 2023, Munich had the highest average transaction price for new dwellings of approximately 10,900 euros per square meter. Frankfurt ranked second with an average transaction price of 7,700 euros per square meter, followed by Hamburg and Berlin.

Germany - Housing cost overburden rate: Tenant, rent at reduced price or free was 10.10% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Germany - Housing cost overburden rate: Tenant, rent at reduced price or free - last updated from the EUROSTAT on March of 2025. Historically, Germany - Housing cost overburden rate: Tenant, rent at reduced price or free reached a record high of 19.40% in December of 2012 and a record low of 6.10% in December of 2021.

In 2021, the number of employees in the real estate industry in Germany increased by 136,286 employees (+43.24 percent) since 2020. With 451,456 employees, the number of employees thereby reached its highest value in the observed period. The relationship of employer to employee exists when there is an agreement, which may be formal or informal, between an enterprise and a person, normally entered into voluntarily by both parties, whereby the person works for the enterprise in return for remuneration in cash or in kind.Find more statistics on the real estate industry in Germany with key insights such as turnover and personnel costs.

The price of residential real estate increased in most countries in the European Union in the fourth quarter of 2023. Prices rose the most in Poland, Bulgaria, and Croatia. Nevertheless, many of the largest markets saw prices decline. In Germany, the house price index fell by 7.1 percent from the same period a year ago. According to the aggregate house price index for the EU, prices mostly stabilized after a brief drop in the second half of 2022.

Deutschlands Real Residential Property Preisindex belief sich im 2024-09 auf 126.618 2010=100. Dies stellt einen Rückgang im Vergleich zu den vorherigen Zahlen von 126.634 2010=100 für 2024-06 dar. Deutschlands Real Residential Property Preisindex werden vierteljährlich aktualisiert, mit einem Durchschnitt von 124.439 2010=100 von 1970-03 bis 2024-09, mit 219 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 160.595 2010=100 im 2021-12 und ein Rekordtief in Höhe von 99.134 2010=100 im 2010-03. Deutschlands Real Residential Property Preisindex Daten behalten den Aktiv-Status in CEIC und werden von Bank for International Settlements gemeldet. Die Daten werden unter World Trend Pluss Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly kategorisiert.

The personnel costs of the real estate industry in Germany increased by 4.6 billion euros (+33.68 percent) in 2021 in comparison to the previous year. Therefore, the personnel costs in Germany reached a peak in 2021 with 18.3 billion euros. According to Eurostat, cost of personnel are defined as the total remuneration payable by an employer to an employee in return for work during the reference period. It also includes taxes and employees' social security contributions retained by the unit as well as the employer's compulsory and voluntary social contributions. Personnel costs are made up of wages and salaries and employers' social security costs.Find more statistics on the real estate industry in Germany with key insights such as turnover and number of employees.

ImmobilienScout24 ist die größte Internetplattform für Immobilien in Deutschland. Auf der Internetplattform werden sowohl private als auch gewerbliche Immobilien angeboten. Grundlage für die Schätzung der Preisindizes sind jedoch nur Wohnimmobilien. Die Indices basieren nur auf der letzten veröffentlichten Version des Immobilienangebots, vorherige Versionen und temporär deaktivierte Versionen des selben Angebots werden nicht berücksichtigt. Der vom Anbieter auszufüllende Fragebogen bezüglich der Ausstattung der Immobilie enthält keine Pflichtangaben. Bis auf wenige Ausnahmen ist der Preis, zu dem der Anbieter die Immobilie verkaufen will, angegeben. Dabei ist zu beachten, dass es sich hier um Angebotspreise und nicht um Transaktionspreise handelt.