Owners currently have to pay around 71 times their monthly net household income to buy an apartment of around 100 square meters. Ten years earlier, it was 50 times that amount. This is the result of a study by Hüttig & Rompf AG. According to the construction financing broker, the average price per square meter in Germany reached a new record high of 3,958 euros in 2021. In 2012, only 2,229 euros per square meter were due. This corresponds to a percentage increase of 78 percent.
The study also shows that the search for real estate has changed. Real estate is now no longer sought only in metropolitan areas such as Frankfurt (Main), Hamburg and Stuttgart, but also in the surrounding areas. In demand are real estates in A to D-cities. Among the A-cities belong among other things the three metropolises mentioned as well as Berlin, Duesseldorf, Cologne and Munich. D-cities include Passau, Siegen and Wolfsburg, for example.
"Despite the significant increase in prices per square meter, the monthly burden on households remained relatively constant in 2012 to 2021. This is due to the growing demand for smaller properties and favorable interest rates," explains Ditmar Rompf, CEO of Hüttig & Rompf AG. Thus, owner-occupiers had to spend around 23.9 percent of their net household income on the monthly interest and repayment installment in 2021. That is only slightly more than in 2012 (21.6 percent).
Source and further information: dgap.de/www.huettig-rompf.de/online/marktreport-2022/
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