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German housing prices rose by 2.2% in the first quarter, with the recovery momentum continuing
Investing.com – The German Banking Association VDP released data on Monday showing that German housing prices increased by 2.2% overall in the first quarter of this year, continuing the recovery trend after hitting bottom.
The data shows that residential property prices rose by 2.3% compared to the same period last year, office building prices increased by 1.9%, and retail property prices went up by 1.5%.
VDP pointed out that the Iran war has led to rising energy prices, which in turn have driven up inflation levels and financing costs.
Jens Tolckmitt, CEO of VDP, stated: “The impact of the Iran war on the real estate market remains to be seen. Based on the first quarter data, there has hardly been any obvious shock so far.”
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