OTS: immowelt / immowelt price compass: trend reversal intensifies – … | news

OTS: immowelt / immowelt price compass: trend reversal intensifies – … |  news

immowelt price compass: trend reversal intensifies – real estate prices

are sinking across the board

Nuremberg (ots) – These are the results of the 7th edition of immowelt

Price compass for the 3rd quarter of 2022:

– In 12 out of 14 major cities surveyed, asking prices are falling

Existing apartments compared to the previous quarter – in the 2nd quarter there were still 7

cities

– Confirmation of the trend: Second consecutive decline in Munich and Cologne (each

-2 percent)

– Consequence of lower demand: First declines in Hamburg (-2 percent),

Frankfurt (-3 percent) and Stuttgart (-2 percent)

– Price stagnation in Berlin – largest drop of 4 percent in Hanover

Due to the rise in construction interest rates, fewer and fewer people are able to own their own home

Afford. Already in the 2nd quarter of this year, the reduced interest in

Condominiums in many cities ended years of price increases. in the

3rd quarter, the trend reversal on the real estate market is now complete: Loud

immowelt price compass (https://content.cdn.immowelt.com/iw_group/Redaktion/Press

emitteilungen/2022/2022_10_12_immowelt_Preiskompass_Q3_2022.pdf?v=1665489952)

in 12 of 14 major cities surveyed, the asking prices are from

Existing dwellings down in Q3 2022 compared to the previous quarter – in

at the top even by 4 percent. In another city, prices are stable

remained. Only one city shows a slight increase. in the

quarterly report, existing apartments offered on immowelt.de (75

square meters, 3 rooms, 1st floor, built in the 1990s) in the 3rd quarter of 2022 with

compared to the previous quarter.

The trend reversal becomes even clearer when looking at the past few months. from 1

in the second quarter of 2022, the purchase prices in 6 cities fell. From the 4th

From the first quarter of 2021 to the first quarter of 2022, none of the 14 cities had one

decline recorded.

Second decline in a row in Munich

Even the most expensive German cities where apartments – no matter which one

condition – were sold within a short time, experienced by the increased

Interest rates a noticeable kink. In Munich, Germany’s most expensive city,

the real estate market is calming down noticeably. Compared to the previous quarter

the asking prices for existing apartments have fallen by 2 percent – that’s it

second consecutive decline. At the beginning of the year, the price per square meter in the

Top still 9,636 euros. This is currently 9,292 euros.

A similar development can also be observed in Cologne. The Rhine metropolis

is also in second place with a minus of 2 percent

consecutive decline. However, the price level is significantly lower than

in Munich: apartments are currently being offered for 5,282 euros per square meter.

On the opposite side of the Rhine it is a bit cheaper. In

Dusseldorf condominiums cost 5,128 after a 3 percent drop

euros per square meter – here, too, the trend from the previous quarter is solidifying.

First declines in Hamburg, Frankfurt and Stuttgart – stagnation in Berlin

In Hamburg, Frankfurt and Stuttgart, the signs have changed

Price development turned only in the past three months. First time after

many years, all three cities recorded within a quarter

price declines. In the Hanseatic city (6,653 euros), the prices include, among other things

down 2 percent due to falling demand. In Frankfurt (6,470 euros)

Asking prices even fell by 3 percent within the last quarter, in

Stuttgart (5,559 euros), the decline is also 2 percent. To

years of increases, the price rally in all three cities came as early as the second

quarter to a halt. Now the first price corrections can be observed.

In Berlin, however, there has not yet been a complete reversal of the trend. The purchase prices

are currently stagnating in the capital at 5,171 euros. This could be because

that interest in real estate, particularly among capital investors, continues

is available. Because the price level is compared to other German as well

European metropolises remain low. Nonetheless, it weakens

Price curve noticeably, since the high building interest particularly financially owner-occupiers

meeting.

Largest price correction in Hanover

Hanover recorded the strongest decline of all cities. within a quarter

prices fell by 4 percent to 3,773 euros per square meter. Taken into account

Still considering the 3 percent decline in Q2, purchase prices are within

half a year down by 7 percent. The strong decline is related to that

together that prices rose sharply last year and it

as a result, there are now clearer price corrections in return.

The price curve is now also pointing downwards in the inexpensive cities of the Ruhr area. In

Dortmund condominiums are currently offered 2 percent cheaper than

still in the 2nd quarter. In Essen buyers even pay 3 percent less. While

Dortmund (2,853 euros) has never crossed the 3,000 euro mark

Prices in Essen (2,914 euros) have now fallen below that again. Is even cheaper

Living space only in Leipzig with square meter prices of 2,654 euros. The tendency

pointing downwards here too: prices are falling for the second quarter in a row,

most recently by 3 percent. The distance to Dresden (2,968 euros) is slightly larger

since the state capital of Saxony recorded a plus of 2 percent

stands.

More than 100,000 euros less budget for families

A special topic in this issue of the immowelt price compass are the consequences of the

increased interest rates since the beginning of the year. It was analyzed how the

loan amounts that buyers can afford if they

do not want to exceed the recommended housing cost ratio of 30 percent. That

Result: The budget has been significantly reduced in all 14 cities. At the

the losses in Stuttgart are the strongest. A family needs to change their budget

109,000 euros, so as not to exceed the 30 percent mark.

Instead of a loan of 431,000 euros are due to the increased interest rates

with a healthy load, only 322,000 euros are now feasible.

Converted, buyers get 20 square meters less living space. Also in

Munich searchers have to lower their expectations. In the most expensive

Big city, the financing amount should be 108,000 euros lower than

still in the 1st quarter. How the budget has changed in all other cities,

read the immowelt price compass (https://content.cdn.immowelt.com/iw_group/Re

daktion/Press releases/2022/2022_10_12_immowelt_Preiskompass_Q3_2022.pdf?v=1

665489952).

The 7th edition of the immowelt price compass is available for download here.

(https://content.cdn.immowelt.com/iw_group/Redaktion/Pressemitteilungen/2022/202

2_10_12_immowelt_price compass_Q3_2022.pdf?v=1665489952)

Calculation and methodology

The analysis is based on apartments advertised on immowelt.de that

proven statistical methods. These are based on the

many years of expertise in the price calculation of the French partner portal

Meilleurs Agents, which, like immowelt, is part of the AVIV Group. the

The resulting price updates give an insight into the dynamic situation

in the housing market in these cities. Detailed information on

Methodology can be found on page 6 of the current immowelt price compass. (https://

/content.cdn.immowelt.com/iw_group/Redaktion/Pressemitteilungen/2022/2022_10_12_

immowelt_Price Compass_Q3_2022.pdf?v=1665489952)

You can find this and other press releases from immowelt.de in our

Press area at https://presse.immowelt.de/.

About real estate:

immowelt is part of the AVIV Group, one of the largest digital

real estate tech companies in the world.

The immowelt mission is to cover all steps of the real estate transaction in the future

digitize to make this as uncomplicated and easy as possible for everyone involved

to make possible. The basis for this is offered by the wide-ranging immowelt

Portals belonging to the leading real estate platforms in Germany and

Austria belongs and already today to owners, real estate professionals and seekers

bring together successfully. immowelt supports with data-supported services

the uncomplicated search for a rental apartment, the effective marketing of one

Real estate and tailor-made financing for your own four walls. Thanks to

immowelt creates this with decades of experience and extensive real estate know-how

the perfect sense of achievement for tenants and landlords, real estate professionals,

property owners and buyers.

In addition to immowelt, other leading real estate online marketplaces belong to

France, Belgium and Israel to the AVIV Group, which is part of Axel Springer SE

is.

Press contact:

immowelt GmbH

Northeast Park 3-5

90411 Nuremberg

Barbara Schmid

+49 (0)911/520 25-808

mailto:presse@immowelt.de

http://www.facebook.com/immowelt

Further material: http://presseportal.de/pm/24964/5342346

OTS: immowelt

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