German commercial property prices drop 7.4% in Q2 2024
Real Estate

German commercial property prices drop 7.4% in Q2 2024

Commercial property prices in Germany declined by 7.4% in the second quarter of 2024 compared to the same period last year, according to the VDP banking association. This drop marks a continuation of the sector's decline, which has persisted for two years amidst the country's worst property crisis in decades. Despite the annual decrease, commercial real estate values saw a slight 0.4% increase from the first quarter of 2024, suggesting some stabilisation in the market, according to VDP's chief executive Jens Tolckmitt. The German property market, which had thrived during years of falling interest rates and increased demand, has been severely impacted by a sharp rise in interest rates and construction costs. This abrupt shift has led to insolvencies among developers and a freeze in financing and transactions. Germany, along with China and the United States, has been among the hardest hit by the global commercial real estate downturn. (ET)

Commercial property prices in Germany declined by 7.4% in the second quarter of 2024 compared to the same period last year, according to the VDP banking association. This drop marks a continuation of the sector's decline, which has persisted for two years amidst the country's worst property crisis in decades. Despite the annual decrease, commercial real estate values saw a slight 0.4% increase from the first quarter of 2024, suggesting some stabilisation in the market, according to VDP's chief executive Jens Tolckmitt. The German property market, which had thrived during years of falling interest rates and increased demand, has been severely impacted by a sharp rise in interest rates and construction costs. This abrupt shift has led to insolvencies among developers and a freeze in financing and transactions. Germany, along with China and the United States, has been among the hardest hit by the global commercial real estate downturn. (ET)

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?