Property prices are rising rapidly, hence public perception. But according to one study, especially few, above-average expensive regions provide the boom. In some environments, prices even fall.
According to a study, the rise in real estate prices dates back only to a few regions. Although the purchase prices for the apartments have increased since 2005 in almost all cities and districts, according to an analysis of the Sparda banking association. But in less than a quarter of all regions, prices have risen more than the national average. This was a 3.4 percent increase over the year.
Big cities are responsible for the sharp increase in prices. "The already expensive regions are also the most dynamic," says the newspaper. In Berlin, the added value of apartment prices is 2.4 times the national average, in Hamburg it is twice, according to the authors. Overall, the real estate sector in Berlin increased by almost 129 percent between the first quarter of 2005 and the third quarter of 2018, followed by the districts of Munich (117), Monaco (116) and Hamburg (110). On the contrary, prices have increased by only 54% throughout the national territory.
Purchase prices per square meter in the selected regions
|City / Province||Price per square meter|
|District of Monaco||7586 euros|
|Monaco (city)||6798 euros|
|Frankfurt am Main||4555 euros|
|Freiburg im Breisgau||4444 euros|
|national average||2379 euros|
|County Dahme Spreewald||1668 euros|
Particularly attractive metropolis
In general, prices in the period under review have increased in cities by about twice as much as in counties. At the same time, the metropolises continue to shine. "Munich's sphere of influence is more than 100 kilometers," says Hanno Kempermann, project manager at the consulting firm IW Consult, the study partner. In the surrounding Bavarian neighborhoods, the price per square meter is sometimes even higher than in other large cities.
According to the study, buildings with an area of 111 square meters cost € 264,000 in large sections, but buyers in big cities must be satisfied with much less space for this price: according to the study, for € 264.00 in the district of Monaco, only 35 square meters are available in Kyffhäuserkreis, Thuringia but for the same price a total of 309 square meters. Here, property prices have even fallen since 2005.
Gradient between west and east, north and south
It is unlikely that the split will change much: the authors see the best economic prospects and therefore also the rise in property prices for southern Germany, and in particular for the Munich metropolitan area and the Berlin metropolitan areas , Hamburg and Frankfurt. At the back were the Ruhr area and some parts of East Germany. But the east is catching up slowly, like Rostock.
According to the study, three out of ten tenants between the ages of 50 and 50 are planning to buy property – in 2013 it was one in four. But people have avoided the risk of long-term credit and high prices. Nearly half are willing to commute up to 30 kilometers to work.
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