GREIX Q2 2025: Small increase in house prices — all-time highs aren’t expected anytime soon

In the second quarter of 2025, prices for residential real estate in Germany continued their upward trend, though without significant acceleration. The strongest gains were seen in single-family houses, while apartments and multi-family houses saw only modest increases, roughly in line with overall inflation. In most regions, prices remain well below their 2022 peaks. Given the current sluggish momentum, it is not expected that those levels will be reached again – on average nationwide – for another four years. These insights are based on the latest update of the German Real Estate Index (GREIX), a joint project of the local expert committees for property values (Gutachterausschüsse für Grundstückswerte (GAAs)), ECONtribute, and the Kiel Institute for the World Economy (IfW Kiel).

Kiel Institute Experts