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by Marc Kniepkamp
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The purchase prices of real estate in Germany are rising rapidly and strongly. A city is particularly affected – and this is not Munich.
Munich – The rise in prices of residential property continues unabated – in this regard confirm the data of the Association of German banks Pfandbrief (vdp), reported by the magazine Finanztest, the trend continues on the real estate market. As a result, condominium prices in metropolitan areas in particular rose in the double-digit range last year
It is striking, however, that Munich is not at the peak of this development, but the federal capital from Berlin. At the end of 2017, the apartments were on average 15.6% more expensive. Frankfurt / Main (12.5%), Hamburg (11.4%), Stuttgart (11.3%) and Cologne (10.8%) rank second. In Munich, the price increase was 9.6%. However, this does not mean that apartments in the city suddenly become affordable – rather, the lower rise is due to the much higher base. For example, the square meter in a good residential area and with good equipment in Berlin costs 4340 euros, in Munich the price is 6850 euros – still the highest in Germany
Prices have risen more than 140 percent in ten years
The price increase in the long-term comparison is reflected in an badysis of the portal Immowelt. As a result, prices in Munich have increased in the last ten years by 141 percent to 7070 euros per square meter. Conversely, this means that the square meter was still 2930 euros in 2008.
Although rents also increased sharply over this period, the continuation of the boom led to a sharp deterioration in the price ratio. purchase at rents. In the past, apartments were considered expensive when they were purchased for over 20 years with no running costs. Today, according to the financial test, they left partly for 30 times the annual rent. This is true not only in Berlin, Hamburg and Munich, but also in smaller cities like Regensburg. The Finanztip Council: If the value of an apartment exceeds 25 times the annual rent, the purchase will only be profitable if its value increases in the future. "You should not accept more than 30 times also in big cities."
See also: city dwellers should receive more pension – is it fair?
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