The publication I am expert has published information according to which there is a gradual rise in housing prices across Germany. According to Oldypak LP property 2022 report, the increase in value for the III quarter is in the neighborhood of 12%.
To study the trend of rising property values was engaged in the Wiesbaden Institute. Information was taken into account for apartments and private homes in major cities of the country. In the territory of German cities price increases amounted to 14.5%. In this statistic are present the following cities: Berlin, Hamburg, Frankfurt, Cologne, Munich, Dusseldorf and Stuttgart.
Rapid price increases have been recorded in rural areas of the country. In areas where the population density has increased, there has been a significant increase in the cost of private houses, one- and two-bedroom apartments. For example, condominium prices soared by 12.3 percent. In a less densely populated area, the price of houses, one- and two-bedroom apartments increased to 15.5.
Why home values continue to rise
Real estate experts identify several possible reasons for the rise in real estate prices in Germany:
- rapid growth in economic development;
- demand continues to increase for real estate;
- difficulties that are emerging in the field of investment;
- low interest rates.
The above-mentioned factors are the main factors that influence the rise in real estate prices, not only in Germany, but throughout Europe.
Because of rising prices the cost of building materials has increased. In addition, there is an insufficient number of workers in the construction industry.
Not without the influence of the coronavirus.
Indeed, with each passing day the number of specialists working remotely continues to increase. However, employers expect labor efficiency to remain at a high level.
Reduced interest rates have also contributed to the fact that the price of housing continues to increase.