German Property Prices Record First Quarterly Rise in Two Years
- Index shows increases across all residential segments
- Kiel Institute says turnaround in real estate market has begun
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German residential real estate prices rose across all segments for the first time in about two years in the second quarter, buoyed by the prospect of lower borrowing costs and a lack of new housing.
Prices for apartments and single-family houses in the period ended June 30 gained 2.4% and 2% respectively compared with the previous three months, according to the German Real Estate Index published by the Kiel Institute for the World Economy on Thursday. The increase for multi-family houses reached 4.4%.