According to the half-year report, the number of purchase contracts has increased by 23 percent compared to the previous year. But this is not the only area showing growth.
In the first half of 2024, the real estate market in Düsseldorf regained momentum: the number of purchase contracts in the first six months of this year increased by 23 percent compared to the first half of 2023, the city announced on Wednesday.
Sales revenue sees significant increase
Additionally, the sales revenue has risen. There was a 39 percent increase in revenue compared to the previous year. For undeveloped plots intended for single-family, semi-detached, and row houses, a slight decrease in prices of nearly five percent was observed.
Price trends for developed properties
In contrast, prices for developed properties slightly increased. There was an approximate five percent rise in prices for row houses, semi-detached houses, and free-standing single-family and two-family houses compared to 2023. However, the largest segment of the condominium market remained stagnant. Only the purchase prices of pre-war built apartments saw an increase of about five percent.
Overall cautious market
According to the city’s analysis, the data from the half-year report indicate an overall cautious real estate market. It remains to be seen how current developments, particularly interest rates, will affect the Düsseldorf real estate market. Further information can be found online here.
