Overview

• German real estate prices decreased slightly in 2024, with ownership apartments down 1.5%, single-family homes down 1.6%, and multi-family homes down 3.0%.
• Inflation-adjusted prices remain significantly below their 2022 peak, with ownership apartments down 18.2%, single-family homes down 19.6%, and multi-family homes down 27.6%.
• Regional disparities persist: prices for ownership apartments rose in Frankfurt and Leipzig but fell in Stuttgart and Hamburg.
• In Bavaria, prices for ownership apartments and single-family homes continue to decline, while row houses and new builds, particularly in Munich, have seen increases.
• High-quality renovated properties maintain value, while older, unsanctioned properties often see greater price negotiation flexibility.