Slight Rise in Prices for Owner Occupied Housing in Germany in Q2 2010

In the second quarter of 2010 prices for owner-occupied housing in Germany rose slightly by 1.1% compared to the previous quarter and by 0.7% year-on-year (see attached table), according to Association of German Pfandbrief Banks.

Berlin, Germany (PRWEB) August 19, 2010

In the second quarter of 2010 prices for owner-occupied housing in Germany rose slightly by 1.1% compared to the previous quarter and by 0.7% year-on-year (see attached table). These figures are based on the sale of properties financed and completed in the second quarter of 2010 compiled by the member institutions of the Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken, vdp). The vdp Price Index for Owner Occupied Housing is a combination of two hedonic price indices. They show price trends for single-family houses and condominiums, and are weighted according to the number of owner-occupied single-family houses and condominiums (roughly ¾ single family houses and ¼ condominiums). The vdp Price Index for Single Family Houses rose by 1.1% in Q2 compared to the previous quarter, whereas the vdp Price Index for Condominiums fell by 0.6%.

“For the third quarter of 2010 we expect a slight upward trend in the overall index and its components,” says Jens Tolckmitt, chief executive of the vdp. This projection is based on positive growth in the economy as a whole and a continuing robust supply-demand-situation on the market for owner-occupied housing.

The vdp Price Index for Owner Occupied Housing is produced on a quarterly basis by vdpResearch, a wholly owned subsidiary of vdp. The basis for these calculations is the vdp transaction database which contains complete information on prices dating back to 2003 as well as factors that affect the value of property. The database currently includes over 560,000 records on transactions and properties from 20 credit institutions.

Press contacts:
Gisela Keller
Association of German Pfandbrief Banks
1-646-643-0390
gisela(dot)keller(at)pfandbrief(dot)us

Dr. Helga Bender
Association of German Pfandbrief Banks (Verband deutscher Pfandbriefbanken)
Phone +49 30 20915-330
e-mail: bender(at)pfandbrief(dot)de
http://www.pfandbrief.de

Dr. Franz Eilers
vdpResearch GmbH
Phone 030 20622-916
e-mail: eilers(at)vdpresearch(dot)de
http://www.vdpresearch.de

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Contact

  • Gisela Keller

    1-646-643-0390
    Email

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