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Lower Saxony property prices
Lower Saxony property prices
Video: Lower Saxony property prices
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Real estate prices in Lower Saxony have been rising steadily for several years - in many places they are now almost priceless. We have compiled a list for you in which regions you have to dig deep into your wallet and where there are still row houses and semi-detached houses that are within an affordable range.

Table of contents Table of contents Lower Saxony real estate prices: Row houses are becoming more and more expensive

  • Rising property prices in Lower Saxony
  • The current real estate market
  • Development of property prices
  • Where else can you find cheap real estate in Lower Saxony?

Table of contents Table of contents Lower Saxony real estate prices: Row houses are becoming more and more expensive

  • Rising property prices in Lower Saxony
  • The current real estate market
  • Development of property prices
  • Where else can you find cheap real estate in Lower Saxony?

Rising property prices in Lower Saxony

Real estate prices in Lower Saxony are rising - the offer on the existing market is becoming increasingly scarce and expensive for home buyers. The prices for used terraced houses and semi-detached houses have risen in almost all of Lower Saxony in the past three years. Real estate prices in Hanover are currently the most expensive.

The attached price data (period 3rd quarter 2018 to 1st quarter 2019) give an initial overview of the drastic development of property prices in Lower Saxony. The price data were determined by the institute empirica on behalf of the LBS Norddeutsche Landesbausparkasse Berlin - Hannover (LBS Nord). The real estate experts have evaluated the sales offers in the daily newspapers in Lower Saxony and in online portals.

Hauspreise in Niedersachsen
Hauspreise in Niedersachsen

Oldenburg, Wolfsburg and Harburg are among the most expensive regions in Lower Saxony. A detailed property price table can be found here.

Photo: LBS

The current real estate market

  • Hanover: Here row houses or semi-detached houses from the stock are offered at a standard price of 420, 000 euros. An average household must have around ten annual net income to buy such a property. The top prices in the state capital are even higher: In the upper price segment, at least 516, 000 euros are required for a quarter of all houses.
  • Hanover surroundings: In contrast to the center, the real estate prices in the surroundings of Hanover are lower. Here the offers reach a standard price of around 300, 000 euros. With around seven local household net incomes, the financial outlay is significantly lower.
  • Oldenburg, Wolfsburg and Harburg: The cities in Oldenburg (319, 000 euros) and Wolfsburg (312, 000 euros) and the district of Harburg (319, 000 euros) are among the more expensive regions in Lower Saxony with property prices of more than 300, 000 euros. Buyers have to raise six to nine times the household income for a used townhouse or semi-detached house. The top prices in these regions are over 350, 000 euros.

Development of property prices

In Lower Saxony, the prices for used houses have increased by an average of eight percent per year since 2016. In some regions, row houses and semi-detached houses have become particularly expensive:

  • District of Cloppenburg and Lüchow-Dannenberg: Real estate prices rose by 17 percent annually.
  • Landkreis Leer: A real estate price increase of 16 percent per year could be determined here.
  • District of Cuxhaven, Gifhorn, Rotenburg / Wümme and the city of Oldenburg: price increases for real estate by 15 percent annually.

Dr. Rüdiger Kamp, CEO of LBS Nord, on the real estate prices in Lower Saxony: “As there are still too few single and two-family houses being built, the market for row houses and semi-detached houses is also emptying. Used houses in a space-saving design remain an inexpensive alternative for stepping into your own four walls. Those interested in home ownership continue to benefit from low interest rates and state subsidies such as child benefit and Wohn-Riester."

Where else can you find cheap real estate in Lower Saxony?

The cheapest houses in Lower Saxony are currently being offered in the Northeim district. A standard price of 69, 500 euros is required for used terraced houses and semi-detached houses. Converted to 1.6 local annual net income. In the district of Holzminden it is also possible to buy a house for less than EUR 100, 000 at a standard price of EUR 73, 750. If you want to take a look across national borders, here you can find the real estate prices for Germany in 2019.

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