Munich city center
Photo: Heinz Gebhardt / imago images / Heinz Gebhardt
The corona crisis apparently had an impact on the German real estate market - albeit only briefly.
During the first shutdown in March and April, prices for condominiums in Germany collapsed.
This is evident from the figures that the Erfurt data analysis company on-geo has determined.
According to this, apartments were cheaper by an average of 6.5 percent during this period, single or two-family houses by 2 percent.
However, the crisis has not stopped the long-term trend towards higher purchase prices.
Viewed over the entire period since the beginning of the pandemic, prices have increased significantly according to the on-geo data.
Compared to February of this year, apartments were 9 percent more expensive by the end of November, instead of 2958 euros they then cost an average of 3224 euros per square meter;
house prices climbed 3.2 percent.
In the same period of the previous year, apartments and houses were both 7.2 percent more expensive.
According to on-geo GmbH, this evaluation is based on more than 40,000 transactions since February with information from around 200 financial institutions.
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