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LBS Nord purchase price index for Lower Saxony / Corona slows down

Home price increase (PHOTO)

Hanover (ots) – Despite Corona, Hanover remains an expensive place for

Homebuyers: Will be used for half of all family homes

requires at least around 670,000 euros. That is the highest standard price among

all districts and independent cities in Lower Saxony. However, they have

As a result of the Corona crisis, house prices have not increased quite as much as in the


The analysis of home prices in Lower Saxony in the second quarter of 2020 has

the empirica institute on behalf of LBS Norddeutsche Landesbausparkasse Berlin

– Hanover (LBS Nord) created. For regular examinations

the real estate experts evaluate the offers for sale in the Lower Saxony

Daily newspapers and in online portals.

For a used single-family home, an average household needs to be

Hannover currently have around 15 annual net incomes. Much higher

Amounts are required in the upper price segment. A quarter of all houses should

cost at least 1.15 million euros.

The prices in the state capital have increased by an average of 9 per year since 2017

Percent increased – but recently significantly less: Compared to 2019 (3rd quarter)

Homes were only 6 percent more expensive. A similar tendency –

due to the corona consequences – is in numerous counties and cities

Watch Lower Saxony.

The second highest home prices in Lower Saxony can be found in Osnabrück.

The standard price here is 481,500 euros, which is equivalent to that

The equivalent of 11.4 annual local household income.

To the more expensive regions in Lower Saxony with medium asking prices

The district of Harburg (460,000 euros) also includes 400,000 euros

Braunschweig (450,000 euros) and the area around Hanover (425,000 euros). For a

used family home needs an average household in these

Raise circles around ten annual incomes.

With the exception of Wolfsburg, they have been in all of Lower Saxony’s districts since 2017

and independent cities used houses more expensive. On average

prices increased by 9.8 percent per year. It fell almost twice as high

Price increase in the Rotenburg / Wümme district (+ 18% per year). Also the

Districts Wesermarsch (+ 17% per year), Goslar (+ 16% per year) and Göttingen

(+ 15% per year) are well above the average.

Lower Saxony homebuyers continue to drive cheapest in the district

Holzminden. The standard price for a used family home is here

135,000 euros, so that only 2.8 local household income for it

become due. A quarter of all houses are even for a maximum of 86,500 euros

offered. There are also buyers in the districts of Lüchow-Dannenberg and Northeim

comparatively cheap offers for 160,000 or 178,000 euros.

“At the moment we are seeing a little respite in real estate prices”,

explains Dr. Rüdiger Kamp, CEO of LBS Nord. “That can be

but change quickly. The supply on the real estate market is still scarce,

and the demand for home ownership will continue to grow. Because just through that

Experiences of the past few months have made many people aware of which

great value enough space in your own four walls and your own garden

can have.”

Press contact:

LBS North

Press officer

Monika Grave

Tel. 0511 / 926-6668

Email: mailto:

Further material:

OTS: LBS Norddeutsche Landesbausparkasse Berlin – Hanover

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