Real estate construction in Hamburg
Photo: Markus Scholz / DPAResidential property prices in Germany have risen despite the worst recession of the post-war period. In the second quarter they were an average of 1.4 percent higher than in the first three months of the year, as the Federal Statistical Office announced on Wednesday. Compared with the same period in the previous year, prices rose by 5.6 percent from April to June. For comparison: in 2019 there was an overall increase of 5.8 percent over the previous year.
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Relief for the metropolises: This is how the home office is changing the real estate markets
The German economy collapsed by 9.7 percent in the spring due to the Corona crisis. Many employees fear losing their jobs or are on short-time working in the face of the severe recession. Some experts therefore assume that this can at least temporarily curb the rise in prices on the residential property market. On the other hand, the trend towards home offices should also fuel demand for larger properties. Because of the less important proximity to the office centers, locations further away in the countryside are also becoming more attractive.
cr / dpa-afx