Destatis: Prices for condominiums in top 7 markets up 40.8 % since 2015
Prices for German residential property were an average of 5 % higher during Q1 of 2019 than the same period of 2018, as revealed by the HPI housing price index of the Federal Statistical Office (Destatis). The price increase was particularly significant in the seven largest cities with +8.6 % for condominiums. In rural areas the price hike for apartments was substantially less dramatic at +1.7 %. Since 2015, condominium prices in the seven largest metropolitan cities have gone up 40.8 %, nationwide prices rose by 22 %. The HPI is based on data provided by the valuation committees. The results were revised retroactively to and including Q4 of 2015 – mainly because of a new regional breakdown and a refinement of the hedonic method with regard to including location as a factor.
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