Residential real estate price change in Germany 2023, by property type
Prices for newly built houses and apartments in Germany continued to rise in 2023. In the fourth quarter of 2023, the price for newly built house increased by 2.9 percent from the same period in 2022. Conversely, existing houses and apartments experienced a slight decline in prices. Prices for existing apartments declined in all major cities (Berlin, Frankfurt, Cologne, and Munich), except in Hamburg.