House prices continue to fall in July

2023-08-17 16:50:06

housing

New construction prices remain stable.

(Photo: dpa)

Dusseldorf Real estate prices in Germany fell again slightly in July. According to data from the financing platform Europace, whose evaluation is based on real transactions, prices have fallen in all three categories – condominiums, new build houses and existing houses – compared to the previous month.

According to Europace, condominium prices fell 0.74 percent from the previous month. The discounts are 0.23 percent for new build houses and 0.45 percent for existing houses.

Compared to the prices before the turnaround in interest rates, only new buildings are still in the black. According to Europace, prices for condominiums and existing houses have fallen by ten percent since May 2022, and for new buildings there is still an increase of 1.2 percent.

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