Engel & Völkers publishes "Market Report on Residential Property in Germany 2013/2014" for the first time: For several years now there has been a significant rise in rental and sale prices, particularly in German’s urban centres and holiday regions. While prices in most metropolitan areas remained at the high level of the previous year in the first half-year 2013, smaller university cities and numerous towns and regions in East Germany have closed in on these price highs.
Munich and Hamburg ahead of Berlin
The highest absolute transaction volume for freehold apartments was achieved in Munich in 2012 at around 3.80 billion euros, closely followed by Berlin (approx. 3.79 billion euros). With a revenue volume for detached and semi-detached homes of approx. 1.30 billion euros, Hamburg leads the ranking list in terms of absolute transaction volume for this segment of real estate. The high price level has also seen smaller-sized cities such as Freiburg and Mainz entering the ranking list for the top 20 cities with the largest transaction volumes.
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The market report is only available in German. You can order the report as a hardcopy here.