Real estate: prices are falling more than ever – even in top cities

Nervousness is growing on the German real estate market. Because the prices for residential real estate in Germany fell by an average of 6.8 percent in the first quarter of this year compared to the same period last year. As reported by the Federal Statistical Office, this was the sharpest decline in residential real estate prices compared to the same quarter of the previous year since the start of the time series in 2000. Compared to the final quarter of 2022, residential real estate was 3.1 percent cheaper on average. Now there are fears that the correction may not be over after all – even if it is probably a temporary phenomenon in certain regions.