Prices for building plots in Legden: Stable despite increasing demand!

Prices for building plots in Legden: Stable despite increasing demand!

Legden has established itself as a popular place to live, which is also reflected in the current prices for land and real estate. The 2024 property market report provides information about the trends in Legden and Asbeck, where 46 sales cases were documented. The total value of these sales amounts to 17.2 million euros, which represents a price increase of four percent compared to the previous year. Nevertheless, there are strong price fluctuations that make potential buyers and investors sit up and take notice. Loud Münsterland newspaper The prices per square meter for living space in Legden are comparatively cheap.

The trend in North Rhine-Westphalia, however, shows a mixed picture. In 2023, a total of 99,758 purchase contracts were concluded in the property market, which corresponds to a decrease of around 20,000 contracts or 16 percent compared to the previous year. This represents the lowest number of purchases in the last 20 years. Money turnover amounted to 35.14 billion euros and fell by 25 percent. This data comes from the 2024 Real Estate Market Report, which is available in nordrhein-westfalen.de was published and analyzed developments in all sub-markets.

Declines in many submarkets

The decline is clearly noticeable in many price categories and market areas. For developed properties, the number of purchases fell by 12 percent, while monetary sales fell by 26 percent. Prices for single- and two-family homes in particular fell by an average of 8 percent and the number of condominiums sold fell by 18 percent. Here too, prices fell by an average of 7 percent. Nevertheless, undeveloped building plots for commercial and industrial purposes are enjoying a price increase of 4 percent, which could be an interesting area of ​​investment. The price trend for agricultural land rose by 13 percent, while forest land became more expensive by 3 percent.

Particularly high building land prices for individual housing construction can be found in urban centers. In Düsseldorf, for example, prices per square meter cost up to 1,150 euros, while in rural regions such as the Eifel, prices of less than 50 euros per square meter are quite realistic. These price ratios make it clear that purchasing behavior depends heavily on the respective region. Five of the most expensive cities for residential real estate are Cologne, Münster and Hürth, with prices for residential property reaching up to 6,800 euros per square meter.

In summary, the 2024 property market report shows that, despite local price fluctuations, Legden offers an attractive offer for buyers compared to general developments in North Rhine-Westphalia. The data and analyzes in the report are available free of charge to anyone interested at www.boris.nrw.de.