6.09.

2022 07:35 Prices go down, supply goes up

Prices go down, supply goes up

ImmoScout24 editors
08/23/2022 (Updated: 05.09.2022) 8 minutes

Turnaround on the real estate market: purchase prices are falling again
- and supply is increasing. The latest developments.

the essentials in brief

Asking prices for condominiums are falling in more
than half of the cities and counties .
Slight drop in prices for single -family homes too .
Significantly more listings for single-family homes and
condominiums in July.
At the same time , the demand for real estate is
falling.

Good news for those looking to buy: After years of climbing, real estate
prices are actually falling again. At least in a large part of the cities and
districts with more than 100,000 inhabitants. In 173 of 312 cities and
counties , asking prices for apartments for sale are pointing downwards. A
similar trend can be observed for houses for sale, albeit to a lesser extent.

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6.09.2022 07:35 Prices go down, supply goes up

 There is a lot of movement on the real estate market at the moment.

With a slight time lag, there is a change in real estate prices as a result of
the weakened demand. We are seeing more properties for sale on the
market, longer sales periods for properties and a shift in demand towards
the rental market. Instead of bidding processes, renegotiations about the
price will now increase again and the purchase will become more
attractive again despite rising financing costs. This is exactly where the
help of a professional real estate agent can be very helpful. 

- dr Gesa Crockford , Managing Director of ImmoScout24

Condominiums up to 30% cheaper

The cities and districts with more than 100,000 inhabitants show a mixed
development. In some districts, such as Oberspreewald-Lausitz ,
Wartburgkreis or the Duchy of Lauenburg , price reductions for
condominiums of 20 to 30 percent can be observed. However, these are
the exception. On average, the square meter prices fall by 6.2 percent .
And the asking prices are also falling in five of the seven major cities. At -7.0
percent, Munich sees the largest price decline since the beginning of the
year, followed by Frankfurt am Main (-5.9 percent), Hamburg (-4.5 percent),
Düsseldorf (-2.7 percent) and Stuttgart(-2.5 percent). The only exceptions
are Berlin and Cologne . Here, asking prices have risen moderately by 1
and 2.2 percent since January. Who would finance me?

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6.09.2022 07:35 Prices go down, supply goes up

In Mecklenburg-Western Pomerania, Baden-Württemberg, Brandenburg,

Hesse and Lower Saxony in particular, more than two thirds of the cities
with price reductions can be found. In Saxony, Rhineland-Palatinate and
North Rhine-Westphalia, on the other hand, price reductions can be seen
in less than a third of the cities and districts.

city price development

Potsdam - 8.3%

Munich - 7%

Frankfurt a. M - 5.9%

Hamburg - 4.5%

Dusseldorf - 2.7%

Stuttgart - 2.5%

Berlin + 1%

Cologne + 2.2%

Development of asking prices for condominiums from January to July 2022

Also houses cheaper - finance

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6.09.2022 07:35 Prices go down, supply goes up

Asking prices for single-family homes are developing in a similar way, albeit
to a lesser extent. Price corrections can also be observed in 110 of the 312
cities and counties . On average, these are significantly lower at -4.8
percent . But here, too, peak price reductions of 23 to 29 percent can be
observed in Rostock , Oberallgäu (district) and Freiburg im Breisgau . A
look at the metropolises stabilizes the picture. At -3.1 percent, Munich sees
the largest decline in asking prices, but is well below the price trend for
condominiums. In Berlinon the other hand, the price development with a
plus of 9.8 percent is well above the trend. The only outlier is Potsdam .
While Potsdam saw growth rates similar to Berlin in the past few months, a
clear counter-trend can now be seen from January to July.

Most of the price reductions can be found in Baden-Württemberg and

Hesse, each with 40 to 50 percent of the cities and districts, while in
Brandenburg, Saxony and Mecklenburg-Western Pomerania it is 15 to 20
percent.

city price development

Potsdam - 7.7%

Munich - 3.1%

Frankfurt a. M - 0.4%

Hamburg + 0.3%

Dusseldorf + 0.1%

Stuttgart - 1.2%

Berlin + 9.8%

Cologne - 0.4%

Development of asking prices for single-family homes from January to July 2022

Significantly more offer

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6.09.2022 07:35 Prices go down, supply goes up

While prices are falling, supply is increasing: In July, supply in Munich grew
by 18.5 percent. In Dusseldorf (+15.6%), Cologne (+14.4%) and Stuttgart
(+14.2%) the supply of real estate for sale increased significantly within a
month. For Germany as a whole and Berlin , ImmoScout24 recorded
around 9 percent more advertisements for properties for sale in July than
in June. In a metropolitan comparison, the development of supply is the
lowest.

 We are seeing a significant increase in listings for properties for sale on

our platform. Because when demand falls, marketing the property is all the
more important. 

- dr Thomas Schroeter , Managing Director of ImmoScout24

Your dream of owning your own home can come true today .

To the free financing calculator

Demand continues to fall

As supply increases, demand does the same as prices: it decreases. In July,
demand in Cologne fell by around 31 percent, which was the sharpest
drop. In Munich (-26.1%), demand for single-family homes and
condominiums fell by around a quarter. For Hamburg (-21.7%) and Berlin
(-20.8%), ImmoScout24 recorded around a fifth less demand in July than in
the previous month. Looking at Germany as a whole, demand fell by almost
18 percent in July.

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6.09.2022 07:35 Prices go down, supply goes up

Rental apartments are in high demand

Demand for properties to buy is falling, but the pressure on the rental
market is still increasing. ImmoScout24 users were increasingly looking for
rental apartments in July. The already very high demand for rental
apartments in Berlin rose sharply within a month with growth of around 31
percent. On average, an advertisement for an existing rental apartment in
Berlin receives 168 contact requests per week. In Munich , ImmoScout24
recorded the second strongest growth in demand for rental apartments in
July, with an increase of around 17 percent. At the same time, the supply of
apartments for rent in all major cities and throughout Germany continues
to decline: Berlin (-12.6%), Cologne (-10.8%), Frankfurt am Main (-10.0%),
Düsseldorf (-8.6%), Hamburg (-7.1%), Stuttgart (-6.4%), Munich (-2 .4%).

One exception to the development of the rental market is new-build rental

apartments: the supply for this is still growing slightly in most major cities. In
some places, however, the supply of new rental apartments is already
declining, for example in Frankfurt am Main (-12.6%) and Cologne (-10.0%).

real estate for sale

offer demand

Berlin + 9.4% - 20.8%

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6.09.2022 07:35 Prices go down, supply goes up

Dusseldorf + 15.6% - 11.2%

Frankfurt a. M + 10.5% - 16.4%

Hamburg + 10.2% - 21.7%

Cologne + 14.4% - 30.9%

Munich + 18.5% - 26.1%

Stuttgart + 14.2% - 8.9%

Germany overall + 9.1% - 17.7%

methodology

For the analysis of the supply, all offers for rental apartments, condominiums and single-family houses for sale advertised on

ImmoScout24 in July 2022 were taken into account and compared with all offers for sale advertised on ImmoScout24 in June

2022. The demand was calculated on the basis of the contact requests per advertisement for the respective property type

per week. This is a standardized value to compensate for different display times on the portal. For the analysis of the asking

price development, real estate for sale in 312 selected German cities and districts with more than 100,000 inhabitants from

January to July 2022 were taken into account by ImmoScout24.

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