Those who dream of owning their own house currently have better chances than they have for a long time. According to “Immoscout”, the situation on the buyer’s market could hardly be better. Where prices are falling the fastest.

The dream of owning your own property seems more attainable than ever: The real estate portal “Immoscout24” has published new data and reports an “unprecedented offer” on the buyers’ market.

There are also falling prices for owner-occupied real estate in Hamburg and the surrounding area – here the portal recorded a minus in the purchase price development.

The portal records the greatest price declines for unrenovated buildings, especially in the major cities. The reasons: the increased construction financing costs, but also the trend “away from buying and towards renting”.

The Hamburg area is leading this trend: The prices for condominiums and houses here fell by around six percent in the period from May to November 2022.

In the midst of the downward trend, however, there was also a surprise: In the Düsseldorf area, the price level for owner-occupied real estate rose by around seven percent.

The portal also recorded an increase in offers this year: significantly more exposés were published than in the previous year – which of course also offers more chances of finding a suitable purchase object. Despite the high supply, demand initially decreased.

This is not least due to the increased cost of living, which makes it impossible for many people to even afford to buy real estate.

The downward trend is not only evident in the surrounding areas, but also in the metropolises themselves: while prices remained high, falling purchase prices were recorded.

The prices for condominiums fell nationwide by an average of around four percent in the period examined. Stuttgart took first place: a minus of ten percent was even recorded here.

The purchase prices for houses in the metropolises also fell significantly: Berlin and Düsseldorf led the list with a minus of around six percent, Munich was at the bottom – here the average purchase prices fell by only around two percent. (lk)

The original to this post “Where prices are falling rapidly” comes from Mopo.