Anyone who wants to buy an 80-square-meter existing apartment in a major German city will have to work for about 8 to 11 years to do so; for a newly built apartment, it will even take about 10 to 14 years. This is the result of an analysis by Immoscout24.
In Munich, prospective buyers have to work a 5-day week (40 hours each) for around 11.2 years for an existing apartment and around 14.2 years for a new apartment. In Frankfurt am Main, it is 9.6 years for an existing apartment and 11 years for a new apartment, and in Stuttgart 9.4 years for an existing apartment and 11 years for a new apartment.
However, the evaluation must also take into account the different asking prices and the different net household incomes (HNE). For example, the HNE in Munich is very high at €4,407, but so are the purchase prices for existing and new apartments at €593,999 and €752,841, respectively.
Source and further information: immobilienscout24.de
© Fotolia
