According to official appraisers, there is no end to the boom in sight on the real estate market. "In view of persistently low interest rates, households' willingness to finance the current prices is likely to remain," says the real estate market report 2019, which the working group of the upper expert committees, central offices and expert committees in Germany presented in Berlin. The study is based on almost one million sales contracts every year.
According to the report, sales of apartments, houses, land and agricultural land have more than doubled in the past ten years and peaked in 2018 at EUR 269 billion. Residential property accounted for 180.5 billion euros of this. "Prices continue to rise sharply, especially in locations that are already expensive," said the chair of the working group, Anja Diers.
Houses and apartments in the Munich area are particularly expensive. In the Munich district, an average of 10,200 euros per square meter was paid for homes last year - the national average was 1,750 euros. The cheapest were houses in the districts of Mansfeld-Südharz in Saxony-Anhalt (490 euros per square meter) and in the Kyffhäuserkreis in Thuringia (410 euros per square meter).
Rents are rising in many places. Where is the situation particularly dramatic? And where can you rent it relaxed? Check out our interactive map of Germany.