Prices for apartments in Germany grew at an annualized rate by 5.8%, for houses - by 1.8%, for offices - by 5%. In general, property in Germany in Q1 2014 increased in price by 4.3%, according to ee24.com citing mmobilien-zeitung.de.
Housing prices in Germany have been growing for the last three years. Experts attribute this to a lack of apartments in major cities such as Berlin and Munich: demand still exceeds supply, despite an increase in the pace of construction in recent years.
Index of association of German banks VDP is calculated based on mortgage loans provided by 30 financial institutions across the country. These transactions are about 10% of total sales of residential and commercial real estate in Germany.