The asking prices for new-build and renovated older properties in Germany remain at a constant level. This is according to figures published by immobilienscout24.de. Prospective buyers currently have to pay an average of around EUR 5,200 per square meter for a renovated older property built between 1900 and 1949. For newer properties built in 2014 or later, around EUR 5,680 is due. The price changes from May 2022 to November 2022 therefore amount to around -0.9 percent for old buildings and around -0.5 percent for new builds.
According to immobilienscout24.de, the highest losses were recorded for unrenovated properties built between 1950 and 1999. Prices here 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. The reason for this is a shift in supply. In November 2022, for example, more new-build properties were on offer in Essen and more energy-efficient renovated apartments in Mühlheim an der Ruhr.
Source: immobilienscout24.de
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