Housing market data Q1/2024: Slow stabilisation of purchase prices

The purchase prices in the empirica property price index for Q1/2024 indicate that the bottom has been reached. This is shown by the new data from the empirica property price index for Q1/2024. While new construction prices continue to show a stable trend, purchase prices across all years of construction should now also have reached a stable level. The first increases can already be observed across all years of construction in cities with a rather low purchase price level.

The indices for newly built condominiums stabilised with an increase of 0.7% compared to the previous quarter, while the indices for newly built detached and semi-detached houses fell only slightly (-0.2%). On average for all years of construction, the indices for purchase prices are still falling. The indices for detached and semi-detached houses recorded a fall of 0.5% compared to the previous quarter and 5.6% compared to the same quarter of the previous year. The indices for owner-occupied flats are also continuing to fall, with a decline of 0.8% compared to the previous quarter and 4.7% compared to the same quarter of the previous year.

In contrast, the indices for rental flats continue to rise, by 1.5% this quarter. The increase in newly built rental flats is 1.7% this quarter.

You can find further results in the current analysis of the empirica real estate price index  (in German) or in the empirica regio market studio .