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Empirica price ranking: Rents continue to rise, prices for properties for sale remain stable
Read the current developments in the Empirica price ranking Q1 2024! Rising rents for apartments and stabilizing purchase prices - all the details here. 📈🏠 #EmpiricaPrice Ranking #Housing Market #Price Development
Empirica price ranking: Rents continue to rise, prices for properties for sale remain stable
The Empirica price ranking for the first quarter of 2024 shows a continued increase in rents for apartments across Germany, while the price declines for properties for sale are slowing down. On average for all years of construction, the trend of falling indices for purchase prices of condominiums and single or two-family homes continues. The indices for rental apartments, however, continue to show an increase, as expected.
Compared to the previous quarter, advertised rental prices for new buildings rose by 1.9 percent in independent cities and by 1.5 percent in rural districts. The year-on-year increase across Germany is 5.6 percent. Rents for new buildings have increased by 48 percent across Germany in the last ten years. Munich continues to hold first place in the rental price ranking, followed by Berlin, Frankfurt am Main, Freiburg, Stuttgart, Heidelberg and Potsdam.
The purchase prices for newly built condominiums remain stable. Across Germany there is an increase of 0.7 percent compared to the previous quarter. The top 5 in the purchase price ranking remain unchanged with Munich, Stuttgart and Frankfurt am Main at the top. The trend of stabilizing prices for condominiums is now also reflected in the ranking, with five cities experiencing rising new building prices and five cities experiencing falling prices.
The prices of new single- and two-family homes appear to be stabilizing somewhat across Germany and are only falling by 0.2 percent in independent cities and districts. Year-on-year, prices nationwide are now 3.0 percent lower. The advertised purchase prices for new one- and two-family homes have risen by 92 percent across Germany in the last ten years. Compared to the previous ranking, the top six places in this category remain unchanged, with Düsseldorf as the biggest mover and Mainz as a notable newcomer.
Overall, the Empirica price ranking for the first quarter of 2024 reflects the ongoing development of rising rents for apartments and a certain stabilization of purchase prices for real estate.