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German home prices drop over 2% in Q2, indicating stabilization
Posted on September 23, 2024 |
German home prices dropped 2.6% year-on-year in Q2 but are showing signs of stabilizing.
The price decline has slowed, with a 1.3% rise in Q2 compared to the previous quarter, the first increase since 2022.
Germany’s property market had years of growth due to low interest rates and high demand.
A sharp rise in interest rates and costs has caused the property boom to end.
Developers are struggling with insolvency as bank funding becomes harder to secure and property deals slow down.