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Teltow-Fläming property market: sales have reached their lowest point!
In 2024, the property market in Dahme-Spreewald will be at its lowest level in ten years with drastic declines in sales.
Teltow-Fläming property market: sales have reached their lowest point!
The property market in Teltow-Fläming is mired in a crisis. As maz-online.de reports, the district's expert committee has its Property Market Report 2024 released and the numbers show a worrying trend. The market slowdown reached its lowest point in 2024, with only 1,815 properties sold. That's a third less than in 2021. This not only affects buyers, but also sellers, who often have to dig deeper into their pockets.
The numbers speak for themselves: Real estate sales fell by 30 percent to 451 million euros. This dramatic decline in the real estate business is particularly noticeable when you consider that over 1.2 billion euros were still converted in 2021. The decline in undeveloped building land is particularly devastating: fewer than 300 building plots were sold in 2024, compared to around 1,000 by 2021.
Declining markets and stability for single-family homes
Another finding of the report is the declining demand for condominiums and agricultural and forestry land. Commercial properties are also affected. While the markets for single-family homes have stabilized - over 300 sales in 2024 represent an increase compared to the previous year - prices for houses and land remain stable. The land values were confirmed and the average purchase price for a house rose from 357,500 euros in 2023 to around 377,500 euros in 2024.
However, the prices vary greatly depending on the location. Houses in the suburbs are almost twice as expensive as in the wider metropolitan area. Almost 80 percent of the money was spent in the suburbs in 2024. One reason for the decline in the market is the high interest rates, which make it difficult for families to realize their dream of owning their own home. Despite lower prices, demand in rural areas remains low.
The annual property market report
The property market report, which is based on statistical evaluations of purchase contracts by the expert committees, offers comprehensive insights into the market situation. The aim is to create a transparent overview of the property submarkets. An application is required to receive the printed report, which is based, among other things, on the legal basis of the Building Code (BauGB) and the Brandenburg Expert Committee regulations, as teltow-flaeming.de explains.
The administration offers free access to the report as a PDF document, while a fee of 40 euros is due for analogue submission. Those interested can seek advice during office hours, which take place after making an appointment and registering by telephone. Unfortunately, the offices will be closed on some days, including May 2nd and May 30th of the current year.
The situation on the real estate market is therefore tense and developments are being closely monitored. A look at the nationwide trends shows that similar tendencies can also be observed in other regions of Germany. The working group of the higher appraisal committees recently published a real estate market report that contains the first transaction data for 2023. We may soon see positive changes, but for now the market remains challenging for both buyers and sellers. You can find more information about this at bbsr.bund.de.