Press Prices of residential property in the 1^st quarter of 2024: -5.7% year on year

Press release No. 240 of 21 June 2024

Prices of residential property, 1^st quarter of 2024 (provisional)
-5.7% on the same quarter of the previous year
-1.1% on the previous quarter

WIESBADEN – The prices of residential property (house price index) in Germany continued to decrease in the 1^st quarter of 2024. Compared with the 1^st quarter of 2023, prices were down by an average of 5.7% in Germany. The Federal Statistical Office (Destatis) reports that this therefore represents a drop in prices compared with the respective quarter of the previous year for the sixth consecutive quarter. Compared with the 4^th quarter of 2023, residential property prices were down 1.1% on average in the 1^st quarter of 2024.