We know from the name that this is a market square, although the market was nowhere in evidence when the photograph was made.
The steep roofs are something of a hallmark of German architecture, and they have several practical advantages - they shed water and snow very well (the latter being something of a risk, actually), and they provide lots of usable space within the roof, at quite low cost. When handled with sensitivity, as in the building on the left, they make a happy contribution to a building.
Notice the less fortunate form of the arches on the building on the right. They are neither fish nor fowl. The building on the left, however, has lovely elliptical arches.
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