BERLIN, Sept. 22 (Xinhua) -- Residential property prices in Germany fell 9.9 percent in the second quarter (Q2) of 2023, the sharpest year-on-year decrease since 2000, when the monitoring of housing prices began, the Federal Statistical Office (Destatis) said Friday.
The downward trend began a year ago with rising interest rates and growing inflation, putting an end to a long period of cheap financing that previously galvanized the property sector in Germany, according to Destatis.
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