Property prices in Germany

German property prices depend, first of all, on a region you are interested in. Prices on property are obviously lower in the eastern part of the state. The status of the city and its population are not always that significant as it might seem.

The highest German property prices were registered in Munich: here in 2008 one square meter cost approx. 3700€ That is connected to the building prices that are quite elevated here. Moreover the region is famous for presence of offices of the most developed German companies. Elite apartments in the center of Munich are estimated in 10 000 — 13 000€ per square meter.

Going down on the rating there is Stuttgart (2900-3200€/square meter), Heidelberg, Wiesbaden, Frankfurt on the Main (2000€), Cologne and Nuremberg (2200 €/square meter), Hamburg and Bonn (2100€/square meter). Prices in ex-German Democratic Republic are conditioned by lower quality of dwelling: lots of houses exposed in the secondary market need complete overhaul or reconstruction. Thus, prices for Dresden, Potsdam and Leipzig at the beginning of 2008 were estimated in 1700€/square meter.

Berlin property prices remain quite low, but constant flow of new companies and, thus, capital favors its increment. Here prices on a square meter depend on a zone. Buildings located in the center are estimated in around 2500€/square meter, while on the outskirts they come to 1000€/square meter. A newly planned and modern apartments in the most prestigious Berlin districts cost from 4500 to 6000€ per square meter.

Diapason of German property prices:

Tenancy depends strictly on a type and location of a certain housing. For ex. 70 square meters in Berlin can be rented at the price of 790€/month, while in Munich you may pay 670€/month for 50 s.m. Annual rental income may vary from 3, 9 to 5, 1%.