Single-family houses and condominiums have become more expensive in the 1st quarter of 2022. This is the result of the housing barometer on purchase price development in Germany, which is published regularly by the online platform ImmoSout24. In the housing barometer the offer prices from the 4th quarter 2021 are compared with those from the 1st quarter 2022. The objects are based on various criteria. According to Immoscout 24, for example, the single-family home under consideration has a living area of 140 square meters and a plot of land of 600 square meters.
Apartments in the portfolio are currently available for €2,755 per square meter and have thus increased in price by 5.1 percent compared with Q4 2021. Existing houses are currently priced at €2,970 per square meter, an increase of 4.6%. For a new building house to the purchase must be raised up-to-date 3,512 euro per square meter - 4.5 per cent more than still in the past quarter. Newly built apartments for sale are currently available for 4,010 euros. Compared with the previous quarter, they have thus become 3 percent more expensive.
ImmoScout24 anticipates a further increase in asking prices for apartments and single-family homes (existing stock) of up to 14 percent within the next 12 months. According to ImmoScout24, prices for new-build apartments are also expected to rise by 13 percent and those for new-build houses by 12 percent. The forecast is based on the assumption that demand for real estate will remain at a high level and that the war in Ukraine, with its corresponding effects on supply chains and construction and refurbishment costs, will not come to an end any time soon.
Source and further information: immobilienscout24.de
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