BERLIN, Sept. 24 (Xinhua) -- In the second quarter of 2019, residential property prices in Germany were 5.2 percent higher than in the same period a year earlier, the Federal Statistical Office (Destatis) said on Tuesday.
Compared to the previous quarter, residential property prices in Germany increased by 2 percent.
Residential property prices in Germany went up in large cities, urban districts and rural regions alike, Destatis noted, adding that the price increases were "particularly large for single-family and two-family houses."
In Germany's seven largest cities -- Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Duesseldorf -- prices for single-family and two-family houses increased by 10 percent, followed by condominiums with 8.6 percent.
In German cities with more than 100,000 inhabitants, prices for houses and condominiums increased by around 7 percent, while prices in rural areas increased by 4.2 percent only.
According to Destatis, 48 percent of German households owned at least one property at the beginning of 2018. Single-family houses were the most common at 31 percent.
Despite the low interest rates, the proportion of German households that owned property was still at the same level as in 2008, the year of the financial crisis.
