German property price on the up
A new report reveals that prices across most sectors of the residential German property market have increased by the largest amount for the past decade. Information supplied by the VDP Association of German Pfandbrief Banks show that residential real estate prices covering all types of homes including apartments, houses and residential buildings improved on average by around four per cent during the last twelve months when compared to the previous year. In general the property price appreciation during 2013 was the biggest gain for ten years.
During the final quarter of 2013 house prices went up by 3.4 per cent – the lowest increase for five quarters. Agents across the German property market agreed that demand for residential properties across major towns and cities remains strong and supply levels in some districts are helping to push prices up. Low borrowing costs had helped to attract investors to the markets.