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31 May 2012
Frankfurt am Main, Germany
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German house prices decline by 3% in July - Hypoport HPX price index
German house prices continue a gradual decline in July, deepening to nearly 3%y/y in aggregate, according to the latest HPX price index from Berlin-based Hypoport. Only in existing homes are there some signs of a price pick-up after the segment was the weakest early last year. "Prices for residential real estate are recovering and the general sentiment in the marketplace is improving," Hypoport said. "Existing homes, above all, have been witnessing consistently rising prices. For the first time, prices for apartments and new homes started following the same trend in July." Aggregate prices in July were 2.88% down from July 2008, but ticked 0.4% higher on the month.