According to this year's calculations by the Federal Statistical Office (Destatis), building land in Germany is becoming increasingly expensive. Particularly in the major cities of Berlin and Hamburg, purchase prices for buildable land have risen many times over in the last ten years. In 2019, for example, the price of a square meter of building land in Berlin was 1,328.48 euros and in Hamburg 1,157.91 euros. If we take into account the calculations of building land purchase prices throughout Germany, the average purchase price is 189.51 euros per square meter. Ten years ago, the average price of land ready for construction was only 122.00 euros.
Among prospective buyers and investors, building plots in residential areas are of particular interest. Around 81 percent of all land purchases last year took place in habitable areas. Another difference emerges in these transactions: A building plot on which a closed construction method is permitted costs an average of around EUR 285.76 in Germany. The price is therefore 76 euros higher than in residential areas that only permit open construction. The difference is that a closed construction method does not provide for any distance between the buildings built, as is the case with terraced houses, for example. A plot with an open construction method, on the other hand, requires compliance with minimum distances between the houses.
The purchase prices for building plots in the German states of Mecklenburg-Western Pomerania, Saxony-Anhalt and Thuringia are relatively low. Prospective buyers can acquire inexpensive building land here for around 60 euros per square meter. Destatis points out that the calculations made are only for a short time comparison and only conditionally usable. This is because prices of sample cases with different plot sizes were used for the evaluation for comparison. The Federal Statistical Office's Fachserie 17, Reihe 5, provides differentiated statistics on the purchase values of building land.
Source: Destatis
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