Good economic activity and low interest rates: real estate in Germany is becoming more and more expensive. In past year, buyers have spent 25 percent more on residential real estate, or buildings and construction areas than y did two years ago, according to an assessment by official expert committees.
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In total, buyers 2016 about 237.5 billion euros for real estate, working group of expert committees shared, about two thirds of which were for purchase of residential real estate. The Working Group has evaluated about one million sales contracts for assessment.
According to study, especially self-employed housing has become more expensive. For example, sales prices for used one-or two-family houses have risen significantly in middle price range. A square metre of living space has cost 2016 nationwide in central 1545 euro. That would be 145 euros more than 2014.
square meters between 380 and 8,500 euro
There are also big differences between city and country. In Munich buyers have to reckon with real estate prices of 8,500 euros per square metre. The prices are significantly lower, for example in Mansfeld-Südharz district in Saxony-Anhalt with 380 euros or in Kyffhäuserkreis Kreis in Thuringia with 470 euros.
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A reversal of development was not in sight, said chairman of Working Group, Anja Diers. The reasons for increase are low interest rates and housing shortages. Purchase prices have increased, especially in urban areas. But danger of a real estate bubble could not be seen, Diers said. Factors such as an increase in speculative purchases and possible financing problems cannot be seen on German market.
