German property price gains "lost some vigor" in 2012 as the cost of new homes rose more slowly, according to the country's central bank.

Home values in Germany's 125 largest cities in 2012 increased by 5 percent, the same pace as a year earlier, the Bundesbank said in a report published today, citing data compiled by research firm BulwienGesa AG. The gains may pose economic risks, even though real estate lending remains moderate, the bank said.

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