Housing prices soared in Germany in 2017, but one city outpaced the world.
"According to a report from property consultancy Knight Frank, property prices in Berlin soared by nearly 21% last year, putting it the top of the 150 world cites it surveyed," reports Jill Petzinger. "The German cities of Hamburg, Munich, and Frankfurt all experienced price growth of between 13 and 15% too, putting them in the top 10."
Globally, housing prices grew by 4.5 percent in 2017, down from 7 percent in 2016.
Despite the fact that Berlin's housing prices are growing fastest of any city in the world, costs are still cheaper than in large global cities like London and New York—and that's part of the city's current appeal. Cheaper prices have "encouraged an influx of foreign investors—including Warren Buffett, who last month inked a franchise deal with Berlin-based luxury apartment company Rubina Real Estate," according to Petzinger. "The triple whammy of foreign investment, low-interest rates, and a booming population has caused the Berlin property market to explode."
FULL STORY: Berlin has the fastest-rising house prices in the world
New Market-Rate Housing Lowers Rents for Everyone, According to New Research
A study published by a German researcher adds ammunition to the cause of improving housing affordability by legalizing and building new supply.
Lumber Prices Spike; Housing Prices Follow
The cost of lumber has more than doubled in the past year, according to industry sources, adding more than $24,000 to the cost of a new home.
Berlin Caps Rents as Anti-Gentrification Measure
The capital city, known for its artists and party scene, is aiming to reduce gentrification by capping rent prices for a period of five years.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.
The Unseen Aftermath: Wildfires’ Lasting Health and Emotional Burden
Wildfires in Los Angeles not only pose immediate physical health risks but also lead to long-term respiratory problems and mental health struggles, underscoring the need for a coordinated public health response to mitigate their lasting effects.
Public Parks as Climate Resilience Tools
Designed with green infrastructure, parks can mitigate flooding, reduce urban heat, and enhance climate resilience, offering cost-effective solutions to environmental challenges while benefiting communities.
What the Proposed Federal Budget Means for Transit, Rail
The proposed FY 2025 budget keeps spending for public transit and passenger rail essentially the same as in 2024.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Resource Assistance for Rural Environments
City of Edmonds
City of Grandview
Harvard GSD Executive Education
UCLA Lewis Center for Regional Policy Studies
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research