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German house prices on the rise
31 Jul
Germany’s housing market has retained its strong outlook, following over four years of growth.

As the Global Property Guide reports, Germany’s housing market has been boosted by a range of factors, being its decade-long economic growth, more than 1 million refugees, high work-related immigration, record-low unemployment, weak construction activity and low interest rates.

Europace revealed that in May 2019, Germany’s hedonic price index increased by 9.01% from a year earlier, marking its highest growth since December 2016.

When observed by category, apartment prices surged by 10.22%, increasing from y-o-y rises of 4.8% in May 2018 and recoding the highest growth in nearly six years.

New home prices increased by 7.95% from a y-o-y rise of 5.44% and marking the highest rise since July 2017. Meanwhile, existing home prices increased by 8.91%, which was a little lower than the previous year’s 9.03% increase.

The current state of Germany’s housing market contrasts with what has historically been known as stable. Germany was also one of the few countries that avoided a property price slump in the 2008-2009 global financial crisis.

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