How much do real estate prices fall?


Development area in Cologne

New buildings by real estate developers are particularly affected by the current price decline.

(Photo: Photodisc/Getty Images)

Dusseldorf In the summer, many market observers did not want to admit it, but it has been a reality since the third quarter: real estate prices in Deutschland falls almost everywhere. The main reason for this is the sharp rise in construction interest rates, which have quadrupled since January.

Unlike, for example, stock markets, where supply and demand adjust every second, the real estate market is sluggish and takes a very long time to react. Therefore, the key question is: how much more will real estate prices fall due to an interest rate shock? Handelsblatt interviewed industry representatives and answered the most important questions.

What is the situation now?

In recent weeks, the first real transaction data for the third quarter was released, i.e.

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