FRANKFURT, Oct 23 (Reuters) – German home prices hardly rose in the third quarter, according to data released on Friday by the German Economic Institute (IW), as higher interest rates weigh on purchases.
• Apartment prices rose 0.3% from a year earlier, while single-family homes and duplexes rose 0.4%.
• “Prices have largely been moving sideways since 2023 and are down 10% from their 2022 peak,” IW said.
• The data come ahead of official third-quarter figures from Germany’s statistics office, which are due on December 23.
• Official data showed home prices rose slightly in the second quarter.
• “Due to higher financing costs, demand for properties for sale has declined, which is why prices have essentially remained stagnant,” IW said.
(Reporting by Rene Wagner; writing by Tom Sims; editing by Ludwig Burger)
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