The asking prices have also fallen in the most expensive German city.
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Dusseldorf There is a clear trend: in almost all major German cities there were price cuts for existing apartments in the third quarter, real estate portal Immowelt reports Wednesday. After a decline in property prices in seven cities had already been observed in the second quarter, things have now fallen in twelve of Germany’s 14 largest cities.
As for Germany’s largest cities, it is the second consecutive decline for Munich, Düsseldorf and Cologne, and prices in Hamburg, Frankfurt, Stuttgart and Hanover also fell for the first time. In Berlin, prices have recently stagnated.
According to Immowelt, purchase prices fell in six cities from the first to the second quarter of 2022. From the fourth quarter of 2021 to the first quarter of 2022, none of the 14 cities had even experienced a decline.
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