Germany recorded the most serious drop in prices for houses and apartments in 60 years

Der Spiegel writes about this.

According to the study, condominiums fell in value by 8.9%, single-family homes by 11.3% and apartment buildings by 20.1%.

As the Kiel Institute of World Economics clarified, if we take into account the adjustment for inflation, the reduction in cost is even more significant: about five percentage points higher.

“The speed and scale of the current decline in property prices in Germany is historically unique,” ​​it said.

Meanwhile, it is clarified that the latest price reduction was preceded by a historically unique price increase, which began around 2009.

Since then, prices have risen three to four times, depending on the segment, before a sudden decline began in 2022.