Kaiser
07-20-2009, 06:52 PM
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Surprise house price increase in Germany (http://www.globalpropertyguide.com/Europe/Germany/Price-History)
</center>
http://www.globalpropertyguide.com/assets/img/CO-DEO-I00.jpg Germany remains the world’s most stable housing market. Prices moved little in 2008, despite the slumping economy. Yet there’s actually some good news.
The most accurate numbers in Germany are probably from the new hedonic house price index (HPX) produced by Hypoport AG (http://www.hypoport.com/), a leading financial services portal.
During 2008, says Hypoport:
• The HPX-Total index rose 2.4% (up 0.7%, adjusted for inflation)
• The HPX-new homes index rose 4.1% (up 2%, adjusted for inflation)
• The HPX-apartment index rose 2.7% (up 1%, adjusted for inflation)
• The HPX-existing homes index rose 0.4% (-1%, adjusted for inflation)
The average price of newly built detached houses was €235,000 in December 2008, Hypoport reports, up by 5.9% from a year earlier.
While this is good news, Germany’s property market has performed unimpressively from the mid-1990s to the mid-2000s, when most European countries were experiencing housing booms.
Now that recession is here, Germany’s housing market is expected to remain lacklustre.
Foreigners can buy without restriction in Germany. Roundtrip transaction costs are generally moderate. Financing is possible for foreigners but should not be expected to cover more than 60% of the purchase price.
Surprise house price increase in Germany (http://www.globalpropertyguide.com/Europe/Germany/Price-History)
</center>
http://www.globalpropertyguide.com/assets/img/CO-DEO-I00.jpg Germany remains the world’s most stable housing market. Prices moved little in 2008, despite the slumping economy. Yet there’s actually some good news.
The most accurate numbers in Germany are probably from the new hedonic house price index (HPX) produced by Hypoport AG (http://www.hypoport.com/), a leading financial services portal.
During 2008, says Hypoport:
• The HPX-Total index rose 2.4% (up 0.7%, adjusted for inflation)
• The HPX-new homes index rose 4.1% (up 2%, adjusted for inflation)
• The HPX-apartment index rose 2.7% (up 1%, adjusted for inflation)
• The HPX-existing homes index rose 0.4% (-1%, adjusted for inflation)
The average price of newly built detached houses was €235,000 in December 2008, Hypoport reports, up by 5.9% from a year earlier.
While this is good news, Germany’s property market has performed unimpressively from the mid-1990s to the mid-2000s, when most European countries were experiencing housing booms.
Now that recession is here, Germany’s housing market is expected to remain lacklustre.
Foreigners can buy without restriction in Germany. Roundtrip transaction costs are generally moderate. Financing is possible for foreigners but should not be expected to cover more than 60% of the purchase price.