German multi-family house prices, ex supra-regional cities
German multi-family house prices, ex supra-regional cities stood at 97.6 in 2025, according to Deutsche Bundesbank. It is one of the indicators in the Property market (annual) table (Value · Annual), with a complete series running from 2013 to 2025. The complete series with an interactive chart, free to download.
This indicator in the Property market (annual) table
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 94.5 | 92.4 | 94.1 | 100 | 97.6 | 92.7 | 83.3 | 74.9 | 70.8 | 64.2 | |
| Sub-aggregate multi family houses, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 97.6 | 95.1 | 95.9 | 100 | 95.2 | 83.9 | 73.5 | 66.1 | 61.6 | 57.5 | |
| Sub-aggregate office, RegioStaR Gem5: Total excluding Cities of supra-regional importance | 92.8 | 90.5 | 93.3 | 100 | 97 | 96.1 | 84.1 | 72.1 | 67.7 | 56.4 |
Understanding german multi-family house prices, ex supra-regional cities
Purchase prices for residential blocks, apartment buildings, and properties designed for several independent households, measured across secondary and tertiary markets. By omitting cities of supra-regional importance, this series isolates the investment housing sector in smaller cities, towns, and rural municipalities. The metric strictly tracks multi-family structures bought as whole assets, normally by investors or housing associations, differentiating it from indices tracking owner-occupied individual flats. It also sits apart from commercial asset classes like offices or retail spaces within the same geographic boundaries.
Interpreting this index requires attention to long-term demographic shifts rather than short-term market noise. Revisions frequently occur in the subsequent annual release as final notary transaction records consolidate. Evaluating the index level year-on-year reveals the underlying demand for rental-yielding property assets away from prime metropolitan zones. Users should be aware that changes to municipal classifications may shift certain towns into or out of the supra-regional category, causing structural breaks in the timeline. Comparing this series with single-family home indices highlights the differing capital requirements and yield expectations of private buyers versus institutional landlords.
Frequently asked questions
- Does this cover individual apartments sold separately to buy-to-let investors?
- No, it measures the transaction values of entire multi-family buildings sold as single assets, not individual condominium sales.
- How does the exclusion of major cities affect the index composition?
- It removes the heaviest concentrations of institutional residential investment, reflecting the realities of provincial rental markets instead.
- Are newly constructed apartment blocks included in the pricing data?
- The index aggregates prices from both existing housing stock and new construction transactions within the designated areas.