AOn the advertising portals, the prices for houses and apartments have been falling for months. Credit platforms are also reporting smaller and smaller purchase amounts. Now it’s official. The German Real Estate Index, or Greix for short, shows that the German real estate market is in reverse gear.
And according to this government-audited index, so to speak, inflation-adjusted prices have fallen 15 percent since mid-2022. In the first quarter of 2023 alone, they fell by six percent in Berlin, by twelve in Frankfurt am Main and by nine percent in Hamburg.
The new index is freely accessible online at greix.de and shows the average prices for individual districts in 18 German cities. Because it was drawn up by a team of economists from the University of Bonn and is based on valid data from the expert committees, in some cases going back to the 1960s, it paints a realistic picture.