Single-family homes and condominiums became more expensive in the first quarter of 2022. This is according to the residential barometer on purchase price trends in Germany, which is published regularly by the online platform ImmoSout24. The residential barometer compares asking prices from the 4th quarter of 2021 with those from the 1st quarter of 2022. The properties are based on various criteria. For example, according to Immoscout 24, the single-family home in question has a living space of 140 square meters and a plot of 600 square meters.
Existing apartments are currently available for €2,755 per square meter and have therefore increased in price by 5.1% compared to Q4 2021. Existing houses currently cost €2,970 per square meter and have become 4.6% more expensive. A new-build house for sale currently costs €3,512 per square meter - 4.5% more than in the previous quarter. New-build apartments for sale are currently available for 4,010 euros. This means that they have become 3 percent more expensive than in the previous quarter.
ImmoScout24 anticipates a further increase of up to 14% in asking prices for apartments and detached houses (existing properties) over the next 12 months. According to ImmoScout24, prices for new-build apartments are also expected to rise by 13% and prices for new-build houses by 12%. 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 renovation costs, will not come to an end any time soon.
Source and further information: immobilienscout24.de
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