Market experiences further decline in Q3

  • German real-estate prices fell by 7.1% in Q3 compared to the previous year
  • Quarter-on-quarter, prices fell by 1.7% on average
  • Commercial property prices fell 10.3% annually, while residential prices were 6.3% lower
  • The price correction is ongoing and a market recovery has yet to occur

German real-estate prices continued their downward trend in the third quarter, with a 7.1% decline compared to the previous year. On a quarter-on-quarter basis, prices fell by an average of 1.7%. Commercial property prices saw a significant drop of 10.3% annually, while residential prices were 6.3% lower. The market is still in a correction phase, and a recovery has yet to be seen.

Factuality Level: 9
Factuality Justification: The article provides specific data from the Association of German Pfandbrief Banks to support the claim that real estate prices in Germany have continued to fall in the third quarter. The information is sourced and there is no obvious bias or opinion presented in the article.
Noise Level: 8
Noise Justification: The article provides specific data on the decline in German real estate prices in the third quarter, citing the Association of German Pfandbrief Banks. It mentions the difference in price correction between residential and commercial properties. The article also includes a quote from the VDP Managing Director, indicating that a market recovery has not yet occurred. Overall, the article stays on topic, provides evidence and data, and offers insights into the current state of the German real estate market.
Financial Relevance: Yes
Financial Markets Impacted: German real estate market
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article provides information on the decline in German real estate prices, which is relevant to the financial markets. However, there is no mention of an extreme event.
Public Companies: Association of German Pfandbrief Banks (N/A)
Key People: Jens Tolckmitt (VDP Managing Director)

Reported publicly: www.marketwatch.com