In 2024, the German residential real estate market faced a number of challenges, including falling prices, slowing construction and rising borrowing costs. Here are the key trends and forecasts for 2025, focusing on the country’s largest cities.
Decline in housing prices
In the first half of 2024, the average asking prices for new and existing apartments decreased by about 3.6% compared to the same period in 2023. This decline is less pronounced than in previous periods, when the drop reached 7.3% and 7.4%, respectively. The largest annual decline was recorded in Frankfurt am Main – by 6.5%, while in Hamburg the decline was only 0.6%.
The situation in major cities
Munich: The most expensive city in Germany with an average price of about 11,000 euros per square meter. In 2024, there was a 5.2% decline in prices for new buildings.
Berlin: The average housing price was around 7,920 euros per square meter.
Hamburg: A 5% decline in new construction prices, which is one of the smallest declines among major cities.
Frankfurt am Main: The largest year-on-year price decline of 6.5%.
Düsseldorf and Leipzig: On the contrary, these cities recorded an increase in prices for new buildings by 4.1% and 8.7%, respectively.
Housing shortage and construction activity
According to a study by the Federal Institute for Building, Urban and Spatial Research (BBSR), Germany needs to build 320,000 new apartments every year until 2030 to meet growing demand, boosted by the influx of immigrants from Ukraine and Syria. However, in 2024, only 216,000 apartments were authorized, the lowest number since 2010 and reflecting the real estate crisis.
Financial performance and investments
Germany’s largest real estate group, Vonovia, reported its third consecutive annual loss in 2024, amounting to EUR 962.3 million, due to significant write-downs in property values. Nevertheless, CEO Rolf Buch predicts a return to profitability in 2025, provided that real estate prices stabilize.
Forecast for 2025
German house prices are expected to grow by 3.5% in 2025, although there is a significant risk of weaker growth. The market continues to face difficulties due to high borrowing and construction costs. Rental growth is expected to exceed house price growth, making it difficult for potential buyers to save a down payment.
In general, the German residential real estate market in 2024 was characterized by declining prices and slowing construction activity. Forecasts for 2025 suggest a moderate increase in prices, but the market remains sensitive to economic and political factors.
Source: http://relocation.com.ua/analysis-of-residential-real-estate-market-in-germany/
“Nova Poshta, the largest logistics operator in Ukraine, has opened its first stationary branch in the Netherlands in Utrecht, and plans to open mini-branches in Amsterdam, The Hague, and Rotterdam by the end of the year. “Nova Poshta entered the Dutch market in October 2024 by launching fast targeted delivery services. The company is currently expanding its customer experience and has opened its own branch in Utrecht,” the press service said in a statement on Monday.
According to it, the branch is located at Overvliet, 2 and is open from Monday to Friday from 09:00 to 20:00, and on Saturday from 09:00 to 18:00.
Customers can send and receive documents and parcels weighing up to 100 kg at the branch.
Delivery time from Ukraine to the Netherlands is 6 days or more.
“We always strive to provide choice and convenience for our customers. That is why, in addition to fast targeted delivery, we have opened a branch in Utrecht. We see a great interest in the services of Nova Poshta from local residents, so we plan to expand further by opening mini-branches in the largest cities of the country: Amsterdam, The Hague, and Rotterdam this year,” the press service quoted Anton Chernysh, CEO of Nova Post in the Netherlands, as saying.
It is noted that each parcel is insured at the company’s expense. In the event of damage or loss, Nova Poshta guarantees full reimbursement of the estimated cost of the shipment.
It is also reported that Nova Poshta customers can call a courier to any address in the Netherlands to pick up a paid and packaged shipment. This can be done through a multilingual website, personal account or mobile application available on Google Play and the Apple Store.
The company’s digital services also allow you to create invoices, find the nearest service points, find out their working hours, and track the parcel’s movement in real time. You can pay for delivery online, including through the IDEAL payment system.
The cost of delivery between European countries is determined by the weight of the parcel and the distance to the destination country. Tariffs can be found here: https://novaposhta.ua/delivery_to_Netherlands/.
Earlier it was reported that Nova Poshta has launched courier delivery in the Netherlands, and in the near future plans to open its own branches in Amsterdam and Utrecht.
Source: http://relocation.com.ua/new-post-opens-first-stationary-office-in-utrecht-the-netherlands/
The first container of Serbian goods was shipped to China on Friday as part of the Free Trade Agreement between the two countries, according to the Serbian government website. The container contains products from local companies such as Pionir, Akov, Fruskogorski Vinograd, Vinarija Aleksić, Nutrino, Nash Med, Zarić Rakija, Budimka, and Damar. The transportation was organized by the Milšped company from Krnoševac, near Stara Pazova.
The Minister of Economy Adriana Mesarović noted that this is the result of the hard work of Serbian entrepreneurs, government agencies and Chinese partners, as well as confirmation of the “steel friendship” between China and Serbia. She emphasized that Chinese retailers, importers and distributors have expressed their willingness to accept Serbian products in a market of 1.4 billion consumers.
Chinese Ambassador to Serbia Li Ming said that thanks to the Free Trade Agreement, which entered into force on July 1, 2024, Serbia became China’s first partner in Central and Eastern Europe with such an agreement. He noted that since the agreement came into force, Serbia’s exports to China have increased by 53.7%, and more and more Serbian wines and dairy products are appearing on Chinese tables.
The free trade agreement covers 10,412 Serbian and 8,930 Chinese products. From the first day of application, 60% of the goods were exempted from duties, and over the next five to ten years, another 30% of products will be exempted from customs duties.
Source: https://t.me/relocationrs/633
In 2024 , the Latvian residential real estate market showed moderate growth and stability despite global economic challenges.
In Riga, apartment prices increased by 5-7% year-on-year, while in other major cities, such as Daugavpils and Liepaja, the growth was around 3-4%.
Most transactions with new apartments in the capital were concluded in the price range of EUR 100,000 to 150,000, indicating a steady demand for mid-market housing.
In 2024, there was an increased interest in suburban real estate due to the changing preferences of buyers seeking more spacious and environmentally friendly housing.
However, the segment of new buildings saw a one-third decline in sales, while sales in the secondary market and in prefabricated buildings increased.
The rise in mortgage interest rates due to the increase in the Euribor rate led to a decline in real estate activity. Many buyers have taken a wait-and-see attitude, waiting for lending conditions to stabilize.
Experts expect the real estate market to revive in 2025. Lower interest rates and stabilization of the economic situation may stimulate demand for housing. The market is expected to become more dynamic, and buyers will be willing to invest in green architecture and energy-efficient housing.
However, the issue of prices will remain relevant, and buyers will have to choose between more spacious housing outside the city or smaller apartments in the center. All in all, 2025 promises to be a favorable year for the Latvian real estate market, with the possibility of increased activity and price stabilization.
Source: http://relocation.com.ua/analiz-rynku-zhytlovoi-nerukhomosti-la/
The map below shows the number of prisoners per 100,000 inhabitants in different countries of the world in 2023. The data allows us to identify several main groups of countries by the level of “imprisonment”.
Leaders in the number of prisoners
The absolute leader in terms of the number of prisoners is the United States, where there are 664 prisoners per 100,000 inhabitants.
High incarceration rate
This category includes countries with more than 200 prisoners per 100,000 people. Among them:
– Thailand (445)
– Brazil (357)
– Turkey (335)
– Russia (329)
– Iran (228)
Medium (100-200 prisoners per 100,000 people)
Most countries in Europe and Asia fall into this category. For example:
– Poland (188)
– Serbia (152)
– Ukraine (129)
– Spain (122)
Low incarceration rate (less than 100 people per 100,000 inhabitants)
This group includes countries with relatively lenient criminal justice systems or low crime rates:
– Norway (54)
– Germany (69)
– Austria (95)
– Japan (38)
Source: https://t.me/relocationrs/607
The Slovenian industrial giant Cimos, known in the former Federal Republic of Yugoslavia for the production of Citroën cars, plans to close its plant in Slovenia and move production to Serbia and Bosnia and Herzegovina. According to Dnevnik, a layoff program has been prepared that does not suit the representatives of the Union of Employees of the Metallurgical and Electrical Industry of Slovenia (SKEI) for the Kras and Primorska and Primorska regions.
According to Saša Ristić, the program was recognized as unprofessional because it did not specify the specific positions that would be retained. He noted that this is the worst layoff program he has ever seen.
Cimos has long been planning to move production to Gradac (Bosnia and Herzegovina) and Kikinda (Serbia). However, according to Ristić, this move is controversial because management should have first informed the works council, which did not happen, although the relocation of production is the official reason for the layoffs.
Cimos has had a plant in Hradac for many years. Ristić explained that the upcoming layoffs are also related to the planned relocation of production. He told Dnevnik that the Cimos management requires the trade union and the works council to give their urgent consent to the dismissals.
Of the 175 employees to be laid off, about 120 work in Senožec, while the rest are employed at Cimos’ production sites in Maribor and Vuzenice.
About Cimos
Cimos is a Slovenian company specializing in the production of components for the automotive industry. In 2020, the company was acquired by the German investment fund Mutares.
Financial results
As of 2022, Cimos’s revenue amounted to about 200 million euros. The company continues to work on improving efficiency and expanding production capacity.
Products and customers
Cimos produces a variety of components for the automotive industry, including braking systems, suspensions, and powertrains. The company’s customers include automakers such as Renault, PSA Group and Volkswagen.
Exports.
Cimos products are exported to various European countries, including Germany, France, and Italy.
Source: https://t.me/relocationrs/606
