Fears of a housing crisis in Germany are growing. But new data points to a surprising turnaround: house prices are falling.
This is the result of a new real estate index launched by scientists at the University of Bonn. According to data from the "GREIX" index – the German Real Estate Index – prices for one's own four walls 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.