The ImmoScout24 Residential Barometer for the second quarter of 2026 notes ongoing stability in the purchase market, irrespective of geopolitical and economic uncertainties. Asking prices for condominiums, in particular, show a recovery trend. Existing condominiums recorded the second-highest annual price increase since the interest rate turnaround, while new-build condominiums were able to regain the price level of 2022. Stable demand is supported by constant construction loan rates, particularly in metropolitan regions and rural areas.
Dr. Gesa Crockford, Managing Director of ImmoScout24, emphasises the clear stabilisation of the purchase market in the second quarter. She highlights that the value, location, and condition of a property continue to be decisive factors for purchase decisions. This underscores the need for precise valuation and selection of properties in the current market situation.
Search volumes in Germany's eight largest metropolitan areas increased by 2 per cent compared to the previous quarter. In the metropolitan hinterlands, demand remained almost constant with a slight decrease of 1 per cent. Independent cities recorded a minor decline in interest of 2 per cent. Greater dynamism was observed in rural areas, where demand rose by 3 per cent quarter-on-quarter.
Asking prices for existing condominiums nationwide rose by 1.0 per cent in the second quarter of 2026 to EUR 2,645 per square metre. Year-on-year, the increase is 3.9 per cent, which corresponds to the second-highest annual rise since the interest rate turnaround in 2022. Current asking prices are now only 4.0 per cent below the peak of the first quarter of 2022. Among the metropolitan areas, Hamburg with +0.9 per cent and Munich with +0.7 per cent showed the strongest quarter-on-quarter price increases. With EUR 5,400 and EUR 8,346 per square metre respectively, these cities already exhibit very high price levels. Berlin and Düsseldorf recorded more moderate price developments with +0.3 per cent each. Year-on-year, Cologne led the price development with +5.2 per cent, followed by Leipzig with +4.7 per cent and Berlin with +4.6 per cent. Stuttgart showed the lowest price dynamism with +0.6 per cent.
Asking prices for new-build condominiums in Germany reached their pre-interest rate turnaround level again in the second quarter of 2026, standing at EUR 4,168 per square metre, a value corresponding to the third quarter of 2022. The price development for new-build condominiums is less dynamic than for existing condominiums, with an increase of 0.7 per cent compared to the previous quarter and 2.3 per cent year-on-year. Leipzig, as the most affordable metropolitan area (EUR 5,417 per square metre), recorded the strongest quarter-on-quarter price development with +1.2 per cent. Frankfurt am Main with +0.9 per cent and Hamburg with +0.8 per cent followed. In Munich, the increase was marginal at 0.3 per cent. Year-on-year, Leipzig also led with +5.0 per cent, followed by Hamburg with +4.0 per cent and Cologne with +3.4 per cent. Stuttgart, as with existing condominiums, showed a subdued price development year-on-year with +1.8 per cent.
Asking prices for existing detached houses rose by 0.3 per cent in the second quarter of 2026 to EUR 2,939 per square metre and by 3.3 per cent year-on-year. New-build houses recorded a slightly stronger increase of 0.9 per cent quarter-on-quarter, reaching EUR 3,957 per square metre. Year-on-year, however, the price development was more moderate at +1.9 per cent than for existing properties. For existing houses, Hamburg (+2.4 per cent), Leipzig (+1.9 per cent) and Munich (+1.7 per cent) showed the strongest annual price dynamism. For new-build houses, Berlin recorded the highest increase within a year with +4.4 per cent, followed by Hamburg with +2.7 per cent.
A long-term analysis by ImmoScout24 over the past ten years also reveals an increase in the proportion of detached houses offered with energy efficiency classes G and H. In regions with high demand, almost a third of the detached houses currently on offer fall into these two lowest energy efficiency classes, compared to a quarter ten years ago. In regions with low demand, this proportion rose from 32 to 37 per cent over the same period.
