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Real estate market: apartments became cheaper in the corona crisis - but only for a short time

2020-12-18T15:34:42.179Z

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. That comes from numbers that the ...



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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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Source: spiegel

All business articles on 2020-12-18

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