German commercial property prices drop 5.4% in 2024 in 4th year of declines

FRANKFURT (Reuters) - German commercial property prices fell 5.4% in 2024, a fourth consecutive year of declines, but showed some signs of stabilisation, the VDP banking association said on Monday, as the country's real estate sector tries to shake off its worst crisis in decades.

The drop was smaller than the 10.2% fall in 2023 after prices rose 0.5% in the fourth quarter of last year - their first quarterly increase since the first half of 2022.

(Reporting by Tom Sims, Editing by Miranda Murray)