Good Morning from Germany, where the housing market is splitting in two: New-build houses keep getting more expensive, hitting a fresh record in October (+2.6% YoY). Meanwhile, parts of the existing-property market are slowly crumbling: Apartment prices fell 0.87% MoM and 1.2% YoY. Existing houses are flat YoY, despite a small monthly rebound. One market, two realities.

 

Good Morning from Germany, where the housing market is splitting in two: New-build houses keep getting more expensive, hitting a fresh record in October (+2.6% YoY). Meanwhile, parts of the existing-property market are slowly crumbling: Apartment prices fell 0.87% MoM and 1.2% YoY. Existing houses are flat YoY, despite a small monthly rebound. One market, two realities.

— Holger Zschaepitz (@Schuldensuehner) November 10, 2026