Flats in Germany's major cities are overpriced by up to 20 percent, but the overall economy is not yet in danger from a real estate bubble, the Bundesbank said Monday (21 October) in its monthly report.
Prices for flats in Munich, Frankfurt or Berlin are not justified by demographics or economic factors and have grown by over 25 percent over the past three years. Real estate prices in Germany overall have grown by eight percent over the same period of time, the central bank said.
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