Photo: DPAA new report by consumer watchdog Stiftung Warentest shows that housing prices rose even more rapidly in 2016 than in recent years, posing a problem for people looking to buy a home. Stiftung Warentest researched housing prices in 115 German towns and cities and came to the conclusion that Berlin and Munich saw the biggest hikes in prices during 2016, at 11 percent each. READ ALSO: Germany is building houses in all the wrong places, study findsPeople buying property in Hamburg should also brace themselves for eye-watering prices. The German Federal Bank warns that housing prices in 2016 were between 15 and 30 percent overvalued. Meanwhile Harald Simons from the research institute Empirica said that “housing prices in the biggest cities have reached a level that simply can’t be justified anymore.”“There is no sign of a turnaround in the trend yet.

Source: The Local July 19, 2017 08:37 UTC