The price increase was the strongest since the fourth quarter of 2016 with an average of 8.4 percent. Compared to the second quarter of the current year, the prices for houses and apartments in Germany climbed by an average of 2.9 percent, which is 0.3 points higher than initially estimated.
The demand for living space is high, fueled by low building interest rates, especially in metropolitan areas. The statisticians also observed large price increases in other areas. Apartments in medium-sized cities outside the metropolises grew the most, by 10.2 percent. Houses in more densely populated rural districts were 9.7 percent more expensive than a year ago, dwarfing the price development in the seven largest cities (+8.9 percent) ./ceb/DP/mis