FRANKFURT (Reuters) -Home prices in Germany rose 3.2% in the second quarter, marking a third consecutive period of gains as the shaky property market in Europe’s largest economy finds its footing after a deep recession.
But the increase was smaller than the 3.5% gain in the first quarter. The first quarter was also revised down from an originally reported 3.8%.
The cumulative gains only partially reverse price drops over a two-year period sparked by a rampant increase in inflation and higher interest rates, spelling a sudden end to a decade-long boom.
(Reporting by Tom Sims and John O’Donnell, editing by Ludwig Burger and Thomas Seythal)
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