Overview

• Residential property prices in Germany fell slightly in 2024, with ownership apartments down 1.5%, single-family homes down 1.6%, and multi-family homes down 3.0% compared to 2023.
• Inflation-adjusted declines were more severe, with prices for ownership apartments, single-family homes, and multi-family homes down 18.2%, 19.6%, and 27.6% respectively from 2022 peaks.
• Regional variations in 2024 saw price increases in cities like Frankfurt (3.9%) and Leipzig (1.8%) but declines in Hamburg (4.9%) and Stuttgart (3.2%).
• Newly built properties in urban areas performed better, with sales increasing and prices remaining near peak levels, unlike older properties that saw sharper declines.
• Bavaria exhibited mixed trends, with ownership apartment prices falling while row houses and newly built semi-detached houses saw price increases; Munich recorded price growth across nearly all segments.