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Germany

Christof Koepsel/Getty Images

Germany

Quarterly Rank: 19
Quarterly Price Change: -1.0%

Annual Rank: 8
Annual Price Change: -1.3%

Germany was able to avoid a housing boom and subsequent bust, which many of its European neighbors suffered, thanks to the country's tight mortgage lending restrictions. Germany reported a relatively stable housing market in the past year with little movement in prime rents. Despite Frankfurt's reliance on financial sector renters for demand, there was only a moderate fall in housing prices in the second quarter.