vdp Property Price Indices: Trend of rising prices persists in the German real estate market in the third quarter of 2015

  • multi-family houses: + 6.9 %, owner-occupied housing: + 4.3 %
  • office properties: + 1.0 %, retail properties: + 2.5 %

In response to the persistently strong demand for real estate – driven in part by the lack of attractive alternative investment options – prices for German residential and commercial properties rose yet again in the third quarter of 2015. This was particularly true of the economically strong urban concentrations and of university towns, where high demand stands in stark contrast to the, in some cases, very scarce supply and low vacancy rates. Calculated on the basis of real transaction data, the vdp Property Price Index for the German market as a whole rose by 4.7 % between July and September 2015 compared with the corresponding quarter one year before. Prices of residential properties were 5.7 % higher than in the third quarter of last year, while commercial property prices advanced by 1.5 %.

“The prevailing circumstances point to the continuation of rising prices in the housing markets,” said Jens Tolckmitt, Chief Executive of the vdp. “New construction saw only moderate expansion; conditions in the credit markets, which have been favorable for years now, improved further of late and are likely to continue for the time being given the monetary policy stance of the European Central Bank. These factors, combined with the good overall economic situation in Germany and the marked depreciation of the euro against the dollar, mean that Germany remains an attractive location for private and institutional real estate investors from Germany and abroad.” 

The performance of individual market segments and all index data relating to the different vdp Property Price Indices (2003 - 2015), including charts and tables, are set out in the enclosed publication.

vdp Property Price Indices

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