Real estate prices rise: How Hamburg's buyer react to the trend!
Real estate prices rise: How Hamburg's buyer react to the trend!
Real estate prices in Germany continue to show a clear upward trend, especially in the big cities. According to the latest findings of mopo.de in the first quarter 2024 are 3.8 percent compared to the first quarter Increased in 2023. This price increase follows two rounds, according to which the prices had previously dropped. Developments in the seven largest cities in Germany are particularly striking, where condominiums became 3.8 percent more expensive in the same period. Housing prices also rose considerable 6.1 percent in the circular cities outside of this list.
A look at the numbers shows that the prices in densely populated rural circles have also risen by 4.1 percent compared to the previous year. However, there is an opposite trend in rural regions with a low settlement: here the price fell 0.8 percent in the first quarter of 2024 and 1.4 percent in the fourth quarter of 2023. This indicates that demand in large cities and urban areas is far above the continuing interest in rural areas.
market development in detail
However, the number of newly created apartments is also declining for the focus on new buildings. The increasing construction costs are an essential challenge. According to the Statistical Federal Office , the term "construction cost index" is often used for the "construction price index", which leads to misunderstanding. The construction price index reflects how the producer sales prices develop in the construction industry and reflects what buyers actually have to pay for building materials and labor costs.Despite the high construction costs, experts are optimistic about the future. The Federal Association of German Volksbanken and Raiffeisenbanken predicts a further increase in prices for self -used residential properties by 3.2 percent in 2024. Also for 2026, an increase of 3.1 percent is expected, which shows that despite the hurdles that builds up, the demand remains strong.
strategies of the Federal Government
In order to counteract this trend and boost housing construction, the federal government is planning a so-called "construction turbo". Faster approval processes and the waiver of development plans should support the creation of new living space. In view of the current market situation, the initiative should be necessary so that there will be enough living space for all those who are looking for a home.
In summary, it can be said that the real estate market in Germany is in motion. Despite the challenges in construction, the demand for living space in urban centers remains high, which supports the trend of rising real estate prices. So if you are looking for a property, you should hurry - the prices could continue to rise. Interested readers can find more information about the market development and price level: inside on lbs .| Details | |
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