Real estate prices in Munich: declines despite Germany's most expensive market!

Real estate prices in Munich: declines despite Germany's most expensive market!

Real estate prices in Munich fell last year, they report South German newspaper. Despite these declines, apartments and houses in the Bavarian capital remain the most expensive in Germany. Buyers must continue to be prepared to spend large amounts on real estate in extreme cases, even if the price declines for houses and apartments are sometimes drastic. The current real estate market report shows that prices in 2024 will continue to be very high compared to the rest of the country.

In a comprehensive annual report presented by the city's expert committee, it is clear that Munich remains the most expensive city for housing. The city occupies the top spot in Germany for both rental and purchase prices. According to another report by BR24 The total turnover on the Munich real estate market was 11.4 billion euros.

Sales development and purchase contracts

What is noteworthy is the increase in purchase contracts for land and real estate, which increased by 34 percent compared to 2022 and 2023. This increase comes after the real estate market collapsed in previous years. The years 2022 and 2023 in particular were characterized by a decline.

The reasons for this decline are varied. Changes in interest rates, crises such as the corona pandemic and the war in Ukraine, as well as an increase in construction costs have contributed significantly to the expansion of problems in the real estate market. In this context, Munich's municipal officer Jacqueline Charlier highlighted the multitude of influencing factors that have shaped market development.

Summary of developments

• Die Immobilienpreise in München sind im vergangenen Jahr gefallen.
• Trotz der Rückgänge bleibt München die teuerste Stadt für Wohnraum in Deutschland.
• Der Gesamtumsatz auf dem Immobilienmarkt beträgt 11,4 Milliarden Euro.
• Es gab einen Anstieg der Kaufverträge um 34 Prozent im Vergleich zu 2022 und 2023.

Although current developments show a positive trend, market monitoring remains necessary to assess long-term trends and their impact on buyers and investors in the region.