German home prices are rising again after the 2022–2024 correction — but the momentum is fading, apartments are falling in real terms, and homes now take three months to sell. For a buyer, that's leverage. Here's what the official data actually says.
Figures verified 8 July 2026Two official transaction-based measures matter: the Destatis Häuserpreisindex (federal statistics office) and GREIX (Kiel Institute, built from notarised sales in 24 cities). Latest readings:
| Indicator | Q1 2026 |
|---|---|
| Destatis house price index, y/y | +1.4% (provisional; +0.3% q/q). Q4 2025 revised down from +3.0% to +2.6% |
| Destatis: apartments in the top-7 cities, y/y | +0.3% — vs +3.6% in sparsely populated rural districts |
| Destatis: houses in the top-7 metros, y/y | +1.4% (sparsely populated rural districts −0.8%) |
| GREIX condominiums, y/y | +0.5% nominal — the weakest since the recovery began in summer 2024; −1.7% adjusted for inflation |
| GREIX single-family houses, y/y | +3.2% (+1.9% q/q) |
| GREIX multi-family buildings, y/y | −0.5% |
| Time on market (GREIX) | 90 days for apartments, 91 for houses — up on the prior quarter |
Euro-per-m² levels below are Immowelt asking prices (July 2026 estimates) — what sellers want, not what buyers paid. Alongside: GREIX's official transaction momentum for condominiums, Q1 2026 vs Q4 2025.
| City | Apartments €/m² (asking) | ≈ USD/m²* | Houses €/m² (asking) | GREIX transactions, q/q (OFFICIAL) |
|---|---|---|---|---|
| Munich | €8,078 | $9,450 | €9,083 | Q1 2026 not yet published |
| Hamburg | €6,014 | $7,040 | €5,427 | Q1 2026 not yet published |
| Frankfurt am Main | €5,564 | $6,510 | €5,026 | −1.4% |
| Berlin | €4,981 | $5,830 | €4,855 | −0.3% |
| Cologne | €4,940 (all residential avg.) | $5,780 | — | 0.0% |
| Düsseldorf | €4,522 (all residential avg.) | $5,290 | — | +0.3% |
| Leipzig | €2,636 | $3,080 | €3,195 | +2.5% — strongest of the big cities |
| Stuttgart | — | — | — | −1.9% |
*USD column converts the apartment asking figure at €1 = $1.17 (8 July 2026). Asking prices: Immowelt estimates updated 1 July 2026 — ASKING, not sold prices. Cologne and Düsseldorf are Immowelt's overall residential averages (no apartment/house split available); no verified Stuttgart asking figure this pass. GREIX column: official notarised-transaction data, condominiums, Q1 2026.
The pattern: Leipzig is the value play — the cheapest big city on asking prices and the strongest on actual transactions. Munich costs three times Leipzig. Frankfurt's −1.4% transaction dip is a negotiating angle in a city with direct US and Canada flights.
Asking prices are one thing; what you actually pay — transfer tax, notary and legal fees, surveys — is another. Ask us anything, or get matched with an estate agent and property lawyer we've independently vetted for Germany. Free, no obligation.