House prices in Germany have collapsed by up to 20 percent since the middle of last year, adjusted for inflation. In the first quarter of 2023 alone, purchase prices for houses, apartments or land in Berlin fell by six percent compared to the peak in 2022.
In Frankfurt, the minus was twelve, in Hamburg nine percent, according to the researchers at the presentation of the German Real Estate Index in Berlin. The new database "GREIX" is also intended to give private individuals free insight into price developments in 18 cities.