@phdthesis{Bull,
  type      = {Bachelor Thesis},
  author    = {Gabriel Bull},
  title     = {Bewertung und Entwicklung der Immobilienpreise in Europa 1999 bis 2019},
  abstract  = {This thesis deals with the topic \"Valuation and development of real estate prices in Europe from 1999 to 2019\". The increase in property prices has a major impact on all sections of the population and their purchasing power. The property is linked to its location by its characteristics, which makes a comparison with normal goods more complicated. The aim of this thesis is to explore the development of housing prices in Germany and within the European Union to examine factors that are responsible for changesin property prices. In addition, the application of nominated valuation methods should make the valuation of real estate comprehensible. The method \"literature research\" is used to investigate the development of real estate prices for Germany from 1999 to2019. In the theoretical part, the nominated valuation methods for Germany are presented and applied in the practical part. It is found that real estate prices in different regions changed significantly depending on their inflow and outflow. Large cities with strong immigration grow faster than construction activity creates new housing units. This leads to a surplus in demand and to stronger growth in property prices than in cities with lower growth. Germany is therefore divided into active and passive areas. The increase in property prices in Germany over the years 1999 to 2019 is due to stricter standards and regulations for construction activity, rising construction costs and stricter energy regulations. The development within Europe from 1999 to 2019 iscompared with Germany. In Germany the house price has remained almost unchanged within the last fifty years, this can be attributed to the granting of fixed interest rates for loans.The analysis of the European comparison shows that property prices have risen more than income. The effect is a decrease in affordability and an increase in household debt. The level of the gross domestic product, is influenced by a strongly growing economy and therefore has an impact on the unemployment rate, which is reflected in the development of real estate prices.The crises have various influences on the international real estate market. The outcome is, with rising inflation, property prices rise.},
  language  = {de}
}