Anyone who wants to build a house or buy a condominium in Wiesbaden has to dig deeper and deeper into their pockets.

This is not only due to the increased construction prices, but also because the scarce land in the state capital is becoming more and more expensive.

The so-called standard land values ​​have risen by an average of 20 percent in the past two years.

Frank Wagener is the new chairman of the expert committee that determines these values.

He assumes that the end of the road has not yet been reached and warns that even people with a good income will be less and less able to buy their own home in Wiesbaden.

"We have seen a significant increase in real estate prices of more than ten percent in some cases," said Wagener, adding that the development in the state capital is consistent with the nationwide trend.

"I see the biggest increases in the vacant lots," says the chairman, describing his experiences.

However, it also happens regularly that developed plots of land are bought up by project developers and the old buildings on them are demolished to make room for profitable new buildings.

There are no local focal points within individual districts.

"We don't have enough building land," says Wagener, describing the general problem.

Detached house for two million

The result of the scarcity of land are sometimes exorbitant prices.

On average, two million euros would be paid for a free-standing single-family house in Sonnenberg, added Bernhard Hanss, who heads the office of the expert committee.

The purchase prices for houses and apartments are still 2020 prices, as the committee is currently in the process of evaluating last year's data.

According to Hansss, the average price for a detached single-family house in the city as a whole was 975,000 euros in 2020.

Although the prices are always dependent on the situation, in his opinion there is no end in sight to the rising prices.

Towards the end of March, the expert committee wants to present its real estate report, in which the price increases are listed in detail.

One of the most important indicators of further increases in real estate prices are the new Wiesbaden standard land values, which the expert committee has determined for the years 2020 and 2021 on a regular basis.

According to Wagener, the average standard land value in the state capital rose by 20 percent from January 1, 2020 to January 1, 2022.

At the beginning of the period, builders had to pay EUR 888 per square meter, but in January of this year it was already EUR 1070.

The increase varies within the city.

In Dotzheim, square meter prices rose by 27 percent from 732 euros to 928 euros.

In Nordenstadt there was building land for 850 euros per square meter at the beginning of 2020.

The square meter now costs 975 euros, which means an increase of 15 percent.

In the expensive Sonnenberg, builders have to dig deep into their pockets if they can find a vacant plot of land at all.

The square meter currently costs 1433 euros.

At the beginning of 2020 it was still 1167 euros.

The increase is therefore 23 percent.

"The pandemic has not had a dampening effect on land prices," said Wagener.

He assumes that the price spiral will continue unchecked due to the low supply of building land.

"Even with a good income, a construction project in Wiesbaden is difficult because nothing can be done for less than 800,000 to one million euros," says Wagener and demanded: "We have to find a way to place inexpensive building land on the market." The city only intervened to a limited extent and offered cheaper land, because it only owned part of the land that comes on the market.

In new development areas, such as in Bierstadt-Nord, the price for new condominiums is currently 7,500 euros per square meter.

"I don't know where this is going to lead and who still wants to pay for everything," said Wagener, describing his fears.