If you want to buy an existing apartment of around 80 square meters in a major German city, you will have to work for around 8 to 11 years; for a new-build apartment, it is even around 10 to 14 years. This is the result of an analysis by Immoscout24.
In Munich, prospective tenants 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-build apartment. In Frankfurt am Main, it is 9.6 years for an existing apartment and 11 years for a new-build apartment, while in Stuttgart it is 9.4 years for an existing apartment and 11 years for a new-build apartment.
However, the different asking prices and the different net household incomes (HNE) must also be taken into account in the evaluation. For example, the HNE in Munich is very high at EUR 4,407, but so are the purchase prices for existing and new-build apartments at EUR 593,999 and EUR 752,841 respectively.
Source and further information: immobilienscout24.de
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