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Real estate prices Germany: comparison
Real estate prices Germany: comparison

Video: Real estate prices Germany: comparison

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Video: Real Estate Market Analysis | German Housing Market is NOT a Bubble 2023, January
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The supply of land and real estate does not keep pace with demand in Germany, and property prices continue to rise. The LBS experts expect the greatest increase in prices - an increase of 6.2 percent - in building land.

Table of contents Table of contents Real estate prices in Germany compared in 2019

  • Rising demand for real estate
  • Missing lots
  • Costly living dreams
  • Hopeful signals for property prices

Table of contents Table of contents Real estate prices in Germany compared in 2019

  • Rising demand for real estate
  • Missing lots
  • Costly living dreams
  • Hopeful signals for property prices

Rising demand for real estate

The economy is booming, incomes are rising, and interest rates on construction loans are low, as in previous years. The demand for real estate remains correspondingly high in Germany - with a shrinking supply in the portfolio and an inadequate new building. As a result, prices will climb by an estimated 4 to 6 percent by the end of the year. This emerges from the LBS analysis "Market for Residential Real Estate 2019", for which around 600 LBS brokers and savings banks collected data from around a thousand German cities. Accordingly, the search for a suitable property does not become easier. The housing shortage in Germany has expanded from metropolitan areas and popular university cities to prospering medium-sized cities. In the LBS Real Estate Price List 2019 you will find detailed information on the typical prices for homes, condominiums and building land in 1, 000 cities and municipalities as well as in over 100 districts of the 14 largest cities in Germany.

Missing lots drive property prices higher

According to experts, what fueled property prices is the bottleneck in the building land sector in a Germany-wide comparison. "Despite all efforts to densify and use existing fallow land - without designating new building land, it will not be possible to contain the prices for land and build affordable housing in the cities, " emphasizes LBS association director Axel Guthmann. However, brokers in Germany are currently observing a declining supply and are expecting a price drop (plus 6.2 percent on a national average).

However, the initial values ​​differ considerably in comparison: In cities such as Bremerhaven or Cottbus, the property prices are currently 100 euros per square meter and less. On the other hand, those willing to build in Düsseldorf pay 770 euros per square meter, in Stuttgart 1, 400 euros and in Munich and the surrounding area even 2, 300 euros.

Typische Preise für Einfamilienhäuser
Typische Preise für Einfamilienhäuser

In general, the higher the wealth in a region, the higher the property prices.

Photo: LBS

Real estate prices reflect expensive living dreams

Real estate prices for single-family homes are highest in the west and south. The detached property leads the popularity scale across Germany. But the range of existing properties cannot meet demand everywhere. A deficiency is particularly evident in the city and the surrounding area of ​​Berlin, where brokers expect 14.5 percent (and thus the highest) price increase. A single-family home in Berlin currently typically costs 430, 000 euros. In other cities, property prices are even more expensive by comparison: If you want to buy in Hamburg, you often pay 550, 000 euros, in Frankfurt 800, 000 euros and in Munich 1.5 million euros.

This order reflects the general tendency: the value of a house is lowest in the east and rises over the north and west to the south. Incidentally, the Munich suburb of Grünwald sets the record with an average property price of 1.8 million euros. Interested parties often have to dig deep into their pockets, not only in the metropolitan areas, but also in regions with attractive landscapes. Compared to Herrsching am Ammersee (1.3 million euros) or Constance on Lake Constance (800, 000 euros), some other half-million cities seem really cheap: In Leipzig, Hanover, Bremen, Dortmund and Dresden, the typical property prices range between 290, 000 and 380, 000 euros.

Hopeful signals for property prices

Row houses or condominiums are an alternative for prospective buyers. A new property “in the row”, for example, ranks in the area of ​​up to 350, 000 euros in almost a third of the big cities (over 500, 000 inhabitants). Lower Saxony is an exception, as row houses are more expensive than average.

The average price advantage for used real estate in cities is 15 percent. "Occasionally, due to the location, they are just as expensive as new buildings, as can be seen in the example of Frankfurt am Main, " says Axel Guthmann (each 650, 000 euros). The search for existing properties can also be worthwhile for condominiums. In this segment, the “used” discount amounts to an average of 36.3 percent.

All in all, the dynamic development of the price will continue in 2019. Association director Guthmann gives hope, however, that the situation could normalize soon if construction activity can be kept at a high level and objects that have already been approved are implemented quickly.

Plots in

Euro / square

meters (mean

to good

Residential area, 300

up to 800 square

meter)

Condominium

new in

Euro / square

meter (3 room

about 80

Square meters)

Condominium

in terms of

stood euro /

square meters

Living space (3rd

Room, about 80

square meters

Living space)

Freestanding

Home in

Stock in

Euros, approx

120

square meters

Living space

To bathe-

Württemberg

Stuttgart

1, 400

6, 700

4, 100

1, 000

Heidelberg

850

4, 500

3, 800

840

Karlsruhe

480

4, 300

2, 600

600

Ulm

400

5, 000

3, 250

650

Bavaria

Munich

2, 300

8, 100

6, 900

1, 500

regensburg

820

5, 000

3, 750

850

Nuremberg

720

4, 700

3, 600

600

Wurzburg

430

4, 400

2, 950

500

Saxony

Dresden

190

3, 500

1, 750

380

Leipzig

180

3, 700

1, 600

290

Chemnitz

120

2, 500

1, 000

250

Zwickau

120

2, 300

1, 200

280

Mecklenburg-

Western Pomerania

Rostock

300

3, 000

2, 300

350

Schwerin

130

3, 625

1, 875

350

Stralsund

140

2, 500

1, 800

250

Neubrandenburg

100

2, 200

1, 300

230

Hesse

Frankfurt a. M

Main

1, 500

6, 500

5, 500

800

Wiesbaden

1, 100

5, 000

3, 500

1, 200

kassel

165

3, 130

1, 990

390

Offenbach

580

4, 040

2, 850

530

Rhineland-Palatinate

Mainz

660

5, 200

3, 000

680

Ludwigshafen

410

3, 200

2, 000

390

trier

400

3, 300

2, 300

380

Speyer

450

3, 600

2, 400

430

Lower Saxony

Hanover

380

4, 000

2, 460

325

Osnabruck

300

3, 000

2, 000

365

Oldenburg

270

3, 380

2, 350

290

Cuxhaven

80

3, 750

2, 250

180

North Rhine-

Westphalia

Dusseldorf

770

5, 900

3, 000

800

Cologne

650

4, 800

3, 300

555

eat

360

3, 550

1, 490

500

Muenster

675

4, 650

3, 400

565

Thuringia

Erfurt

240

3, 500

2, 200

300

Jena

350

3, 200

2, 500

400

Weimar

150

3, 300

2, 000

250

Saarland

Saarbrucken

280

3, 100

1, 550

280

Homburg

125

2, 600

1, 200

155

Merzig

105

2, 500

1, 800

200

Schleswig-

Holstein

Keel

310

3, 700

2, 500

390

Lubeck

330

4, 600

2, 450

375

Flensburg

155

2, 950

1, 950

270

Brandenburg

Potsdam

275

4, 010

2, 980

460

cottbus

90

2, 000

1, 200

180

Frankfurt an der

Or

60

1, 250

1, 200

160

Saxony-

Stop

Magdeburg

180

3, 500

1, 000

220

Halle an der

Saale

170

3, 000

1, 500

170

Naumburg

65

1, 800

900

150

The

City-states

Berlin

350

4, 915

3, 850

430

Bremen

300

3, 500

2, 400

340

Hamburg

690

5, 100

4, 500

550

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