The Immowelt Group has compared the asking prices for existing apartments with 40 to 120 square meters in 78 major German cities with those of the previous year. The results show that owners will have to pay up to 31 percent more between 2020 and 2021. The most significant price increases are in smaller cities.
In Erfurt, the price per square meter for existing apartments will rise by 31 percent to €2,610. In Leverkusen, a price per square meter of 3,030 euros is now 29 percent more than in 2020. In Remscheid, the price per square meter is rising by 26 percent to 1,830 euros. Price increases are to be registered in the most expensive metropolises of Germany likewise, namely in Munich (8,610 euro/sqm; + 12 per cent), Frankfurt/Main (5,960 euro/sqm; + 17 per cent) and Hamburg (5,700 euro/sqm; + 19 per cent). However, these are not as high as in the smaller major cities.
Those responsible at Immonwelt Group see several reasons for the fact that asking prices for existing apartments in the smaller cities are rising more strongly than in the major cities. One of these is that investors are increasingly looking for properties in the smaller cities due to the high prices in the metropolises. Purchase prices there are still lower than in the major cities and attractive returns also await.
Source and further information: immowelt-group.com
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