EQS-News

15th ACCENTRO Homeownership Report 2022: Record Revenues of EUR 43bn on Homeownership Market

EQS-News: Accentro Real Estate AG / Key word(s): Real Estate/Market Report 15th ACCENTRO Homeownership Report 2022: Record Revenues of EUR 43bn on Homeownership Market 29.09.2022 / 14:00 CET/CEST The issuer is solely responsible for the content of this announcement. 15th ACCENTRO Homeownership Report 2022

 Record Revenues of EUR 43bn on Homeownership Market

• Nearly 20 percent growth in revenues in Germany, with Berlin remaining the fastest-selling city
• Number of transactions increases by 4.4 percent
• Highest number of sales per 1,000 residents in Leipzig and Chemnitz
• Average apartment price now at 250,272 euros and at 456,233 euros in the “Big 8”

Berlin, 29 September 2022 – Revenues from apartment sales in Germany’s 80 biggest cities rose by 19.4 percent to a record level of nearly 43 billion euros in 2021. Analogously, the absolute number of ownership apartments sold grew by 4.4 percent to 127,967 apartments. This is the upshot of the 15th ACCENTRO Homeownership Report 2022 that was compiled by ACCENTRO Real Estate AG in collaboration with the German Economic Institute (IW). Within the framework of an ad-hoc extraction, the IW team of Prof. Dr. Michael Voigtländer also examined the ramifications of the increase in building finance rates and of the inflation on the homeownership market.

The ACCENTRO Homeownership Report is the only German publication that aggregates and interprets the data that municipal property valuation committees retain on apartment sales in all major German cities. In this regard, the report differs from other publications of this type, which tend to rely on expert appraisals or the evaluation of supply-side data.

Double-Digit Growth in Revenues

Total revenues in 2021 increased by 19.4 percent compared to the previous year, rising from 36 billion euros to now 42.864 billion euros. During the same period, the number of transactions increased by 4.4 percent to a total of 127,967 sales. In the “Big 8,” meaning Germany’s eight largest cities (Berlin, Cologne, Düsseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart), apartment sales registered a 9.63-percent increase up to a total of 55,939 transactions. The fastest rise in revenues over the past ten years were primarily recorded in mid-size cities in eastern Germany such as Gera (+774 %), Halle/Saale (+468 %) and Chemnitz (423 %). Cities where sales declined include Siegen and Remscheid.