German multi-family house prices, supra-regional cities
German multi-family house prices, supra-regional cities stood at 96.9 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: Cities of supra-regional importance | 91.3 | 89.1 | 89.8 | 100 | 103.3 | 98.4 | 91.3 | 81 | 74.9 | 67.3 | |
| Sub-aggregate multi family houses, RegioStaR Gem5: Cities of supra-regional importance | 96.9 | 93.9 | 91.9 | 100 | 100.9 | 90.5 | 82.5 | 71.4 | 64.3 | 59.4 | |
| Sub-aggregate office, RegioStaR Gem5: Cities of supra-regional importance | 85 | 84.1 | 87.4 | 100 | 106.2 | 107.3 | 99.2 | 88.2 | 82.6 | 71 |
Understanding german multi-family house prices, supra-regional cities
Purchase prices for entire residential apartment blocks and multi-dwelling tenements situated in primary metropolitan hubs formulate this investment-oriented sub-aggregate. Bound by the RegioStaR Gem5 classification for cities of supra-regional importance, the measure extracts large-scale residential asset transactions from the broader commercial property dataset. It strictly excludes individual owner-occupied apartments and single-family detached housing, focusing instead on properties traditionally acquired by institutional investors or large landlords. This series diverges from its corporate and retail counterparts in the same geographic tier by tracking assets whose underlying utility is residential shelter rather than commercial enterprise, while still being classified as investment properties by the Bundesbank.
Tracking the evolution of these assets relies on comparing consecutive annual releases, sidestepping the volatility that would characterize shorter observation windows in the institutional housing market. Revisions are a normal aspect of the data lifecycle, triggered as delayed land registry entries for massive residential block transfers are gradually finalized. A frequent oversight when utilizing this metric is conflating it with general house price indices, which are heavily weighted toward individual homeownership rather than wholesale tenement acquisitions. Analysts should also verify the index reference base when conducting retrospective studies, as periodic methodological updates to the baseline can introduce statistical distortions if not properly aligned with historical datasets.
Frequently asked questions
- Are transactions of individual apartments within these blocks included?
- The calculation relies exclusively on the sale of entire multi-family buildings rather than the piecemeal exchange of individual flats.
- Does the series account for the construction costs of new multi-family houses?
- It measures the capital acquisition price of the properties upon transaction, not the raw material and labor expenses of the construction phase.
- How does the annual compilation handle properties that undergo major renovations before sale?
- Upgraded buildings are incorporated at their finalized transaction price, reflecting the market valuation of the improved asset within the given year.