Real estate boom in Brandenburg slows down - prices are decreasing and demanding is stagnating

Real estate boom in Brandenburg slows down - prices are decreasing and demanding is stagnating

The real estate market in Brandenburg recorded a significant decline in demand last year. The rising interest and construction prices slowed down the price increase. According to the property market report in 2022, there was a decline in the number of purchase contracts, soil prices and money sales.

The number of purchase contracts has dropped by almost a fifth to 28,353, the lowest status since 1992. Most purchase contracts have been completed in the state capital Potsdam, Cottbus, Brandenburg/Havel, Falkensee and Königs Wusterhausen.

The average price for a family home rose ten percent to 397,000 euros compared to 2021. In 2021, this average price rose by 16 percent. In 2022, the average price for a newly built condominium was 403,000 euros.

Due to the high purchase prices, the chairman of the CDU parliamentary group in the state parliament, Jan Redmann, calls for allowances in real estate transfer tax. However, the Brandenburg Ministry of Finance rejects this.

building land in Berlin's surrounding area is still about three and a half times as expensive as in the further metropolitan area. Nevertheless, cities such as Lübben in the Spreewald, Angermünde and Frankfurt (Oder) experience a boom because they can be reached from Berlin within an hour. The offer in the bacon belt is already scarce, and Brandenburg has a commuter surplus of around 100,000 people.

The number of sales contracts for commercial land has decreased by 19 percent. The average price has increased from 43 euros to 53 euros per square meter. In coveted locations such as at BER Airport, the land standard is even up to 1200 euros per square meter.

Real estate prices in Brandenburg have weakened due to the rising interest and construction prices. The demand has decreased, but there is a certain upswing in regions from Berlin. However, the further developments on the property market remain.

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