The German Real Estate Index (GREIX) is a reliable index that analyses the development of property prices in Germany on the basis of the purchase price collections of the local expert committees. These contain the notarised sales prices.
The German Real Estate Index (GREIX) is a joint project of the expert committees for property values, ECONtribute and the Kiel Institute for the World Economy (IfW Kiel). The index tracks property price trends in individual cities and districts back to 1960 and is based on over two million transaction data.
According to the survey, residential property prices in Germany rose slightly again in the first quarter of this year, particularly in some metropolises. Despite economic and monetary policy uncertainties, the market for condominiums, single-family homes and apartment blocks is thus gaining momentum. All data for the 21 cities and districts now analysed are freely available at www.greix.de.
Compared to the previous quarter (1st quarter 2025 to 4th quarter 2024), condominiums increased in price by 1.0 per cent. Prices for single-family homes stagnated with growth of just 0.1 per cent. Multi-family houses, on the other hand, were sold 1.1 per cent more expensively. A comparison with the same quarter of the previous year (Q1 2025 to Q1 2024) shows how strong the price growth is despite higher construction interest rates at the start of the year and concerns about a global recession. Condominiums increased in price by 3.2 per cent within one year. The increase for single-family homes was as high as 4.7 per cent. Multi-family houses rose by 8.7 per cent. Year-on-year, the current figures mark the highest price growth since mid-2022.
The number of transactions is also significantly higher than in the same period last year, up by almost a third.
"The wait-and-see approach has come to an end," says Jonas Zdrzalek, property market expert at the Kiel Institute for the World Economy (IfW Kiel). "Those who want to buy have obviously come to terms with the new circumstances - and are speculating that the property market has bottomed out for the time being."
Graphic: Kiel Institute for the World Economy, Kiel, 2025
