Munich's living space: More square meters for your money - prices are falling!
Munich's living space: More square meters for your money - prices are falling!
München, Deutschland - In Munich there are exciting news on the real estate market! According to a recent report by tz.de can get more living space for their money in the Bavarian capital. With a budget of 350,000 euros, the average living space is 39 square meters. That is a gratifying five square meters more than in 2022. A look at the numbers shows that in 72 of the 79 largest German cities the trend towards larger living space continues.
Although real estate prices in Munich remain at a record level, the development has been declining slightly for several years. 2024 Purchase prices for apartments, houses and building plots continued to go back, such as KUENCHE.de reported. The municipal real estate market report expresses a "mixed" mood in the industry. Top prices such as 18 million euros for a new apartment in the old town or 8.9 million euros for a row house in Schwabing show that there are also outliers, but the general price drop continues.
The current real estate market in numbers
In 2024, around 11.4 billion euros were implemented on the Munich real estate market, which corresponds to an increase of 51 percent for the previous year. However, the total number of purchase contracts is still below the ten -year average. A view of the rental prices already shows that they will probably increase due to the limited range of storey apartments and the influx of large tech companies.
The fact that Munich remains the most expensive city in Germany is not least due to the square meter prices: in 2024 they were between 1,850 and 3,350 euros for undeveloped building land. The average price for a 76 square meter condominium in a good location is around 630,000 euros. According to the data of destatis.de , the prices in the area of residential properties have dropped between two and twelve percent compared to the previous year.
It should be emphasized that interest rates for building finance are now significantly lower than at the highest levels of previous years. This could be the key for many interested parties to do good business on the Munich real estate market.
In summary, it can be said that the Munich real estate market is in an exciting change. Despite the sunken prices, the city remains a magnet for buyers and investors who, despite the high prices, often do not want to do without their own four walls. It remains to be seen how the situation will develop in the coming years.| Details | |
|---|---|
| Ort | München, Deutschland |
| Quellen | |