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Real estate prices in the Soest district are falling: a decline of 11 percent
The property market report shows a clear decline in property prices in the Soest district. Find out here how prices have developed and what this means for property buyers.
Real estate prices in the Soest district are falling: a decline of 11 percent
The latest real estate market report from the expert committee shows that real estate prices in the Soest district are experiencing a significant decline. Compared to previous years, in which prices rose continuously, those who dreamed of a home could look forward to positive developments in 2023. Eva Börger, the chairwoman of the expert committee, confirms that real estate prices fell by eleven percent in the Soest district last year.
Möhnesee remains the top municipality in the Soest district when it comes to average house prices. The report shows that home prices in Möhnesee have fallen compared to the previous year, but are still at a high level at an average of 392,000 euros. In the city of Soest, buyers had to pay an average of around 333,000 euros for a home, which corresponds to a decrease of around 12 percent compared to the previous year. Warstein, on the other hand, brings up the rear with an average purchase price of 199,000 euros.
The number of purchase contracts concluded in the Soest district also fell, resulting in a decrease of 21 percent compared to the previous year. The sale of building sites fell significantly, and the total turnover from the purchase and sale of real estate in the district also fell by 33 percent to 356.2 million euros.
The standard land values in the Soest district have not increased compared to previous years due to the declining real estate prices. In Soest city center, however, there was an exception, with the price per square meter increasing by up to 50 percent in some areas. This increase ensures a significant improvement and underlines the attractiveness of Soest city center.
Interested owners have the opportunity to view the land and property values on the official website of the expert committee, as well as the complete property market report for the Soest district. It should also be noted that rental prices in the city of Soest are continually rising and new tenants must expect higher costs.