Asking prices for new-build and refurbished older properties in Germany remain at a constant level. This is evident from figures published by immobilienscout24.de. Prospective buyers currently have to pay an average of around 5,200 euros per square meter for a refurbished property dating from 1900 to 1949. For newer properties built in 2014 or later, around 5,680 euros are due. The price changes from May 2022 to November 2022 thus amount to around -0.9 percent for old buildings and around -0.5 percent for new buildings.
According to immobilienscout24.de, the highest losses were recorded for unrenovated properties built between 1950 and 1999. Here, prices fell by an average of around 3 to 5 percent. Overall, losses were also recorded for condominiums for sale from May to November 2022 in the metropolitan areas of Berlin (-3.7 percent), Düsseldorf (-5.6 percent), Frankfurt am Main (-9.1 percent), Hamburg (6.1 percent), Cologne (-6 percent), Munich (-6 percent) and Stuttgart (-10.4 percent).
However, immobilienscout24.de points out that prices for apartments for sale in the Düsseldorf area have actually risen recently, by around 7 percent in the past six months. Reason for it is a shift of the offer. In November 2022, for example, more new-build properties were on offer in Essen and more energy-efficient refurbished apartments in Mühlheim an der Ruhr.
Source: immobilienscout24.de
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