Analysis shows: Real estate prices rise in major German cities

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Erfahren Sie in einer Analyse von immowelt die Entwicklung der Immobilienpreise in deutschen Großstädten im ersten Halbjahr 2024. Entdecken Sie, welche Städte die höchsten Preisanstiege verzeichneten und wo die Preise gesunken sind. Laden Sie die detaillierte Tabelle mit den Ergebnissen herunter.
In an analysis of Immowelt, find out the development of real estate prices in major German cities in the first half of 2024. Discover which cities recorded the highest price increases and where prices have dropped. Download the detailed table with the results. (Symbolbild/MB)

up to 8 percent more expensive: price increase for apartments in major German cities

In many cases, the prices for apartments have risen in many cases in the major German cities. According to an analysis of Immowelt, condominiums have been more expensive in a good half of the cities examined, with a top increase of almost 8 percent. The examination compared the average offer prices of existing apartments in 77 selected large cities on 01.01.2024 and 01.07.2024 together.

Development on the market for purchase properties has clearly recorded speed in the past six months, as Immowelt explains Managing Director Piet Derriks. The significant price declines due to the interest shock two and a half years ago made the purchase of real estate more affordable again. In addition, the construction interest is currently lower than in the previous year. As a result, interest in buying real estate is slowly returning and prices rise again in a good second city.

The trend reversal of the prices is particularly evident in several high -priced large cities. In Munich, the square meter prices for existing apartments rose by 4.9 percent, from 7,772 euros at the beginning of the year to 8,153 euros. In Hamburg, the square meter now costs 5,904 euros, which corresponds to an increase of 2.7 percent compared to January. The prices in Frankfurt am Main also attract significantly, with an increase of 4.9 percent to 5,199 euros per square meter.

The largest percentage increase was recorded in Cologne, where existing apartments have increased by 7.9 percent in the first six months of the year. The square meter price for an apartment from the 1990s is now 4,729 euros compared to 4,383 euros at the beginning of the year.

In addition to the expensive hotspots, there is also a revitalization of the real estate market in other cities. Hanover, Bremen and Leipzig also have an increase in the offer prices of existing apartments. In Hanover, prices rose by 7.2 percent, in Bremen by 4.2 percent and 3.7 percent in Leipzig.

A total of 37 of the 77 cities examined have reduced the prices for existing apartments. Berlin, however, continued to record falling offer prices, with a decline of 0.9 percent in the first six months of the year.

The detailed result tables for the 77 cities examined can be downloaded here.

This analysis by Immowelt shows that the prices for apartments in many German cities have increased since the beginning of the year. While prices in some expensive hotspots such as Munich and Hamburg are increasing significantly, there is also a revitalization of the real estate market in other cities. The development shows that buying real estate becomes more attractive again and the interest of buyers returns.