Germany has seen a serious drop in housing prices

In the first three months of this year, housing prices fell in Germany. On an annualized basis, the decline was 6.8%, which is the most serious decline since 2000. The main reason for the decline is the fall in demand, as inflation remains high and the cost of lending has increased. In cities, prices fall more significantly than in rural areas. In the largest locations (Berlin, Hamburg, Munich, Cologne, Frankfurt am Main, Stuttgart and Düsseldorf), prices for houses with 1-2 apartments decreased by an average of 10.%, and for apartments fell by 6.4%. In rural areas, prices for mansions and townhouses fell by 7.8%.

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