German real estate appraisal report: Properties continue to increase in price.

Rising revenues making 2013 a peak year for the real estate market in the German capital Berlin. 2014 starts moderately.

Although only the preliminary sales figures for 2013 have been provided so far, the experts of the Committee on Berlin Property Values (Gutachterausschuss) assume that revenues have mainly been constant to rising on Berlin’s real estate market in comparison with 2012. The forthcoming increase of the real estate transfer tax led to great windfall gains, thus to many concluded contracts in the last quarter of 2013. Although the Committee on Berlin Property Values has not yet the figures of these last-minute-contracts, it is being considered that both the revenues and the number of transactions, meaning purchases, are higher than in 2012. What is remarkable is that the absolute number of concluded contracts with 31,925 compared with the previous year (2012: 31,815) remained almost the same. At the same time, the corresponding revenues however increased by 11% to over €13.8 billion. Within the space turnover, the German real estate appraisal report shows a decline of – 8%. All in all, the experts in Berlin describe the year 2013 as a peak year for the real estate market in the capital. Die final sales figures will be provided only in the middle of April.

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