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 result is that owners will have to pay up to 31 percent more between 2020 and 2021. The most significant price increases were recorded in smaller cities.
In Erfurt, the price per square meter for existing apartments will rise by 31% to EUR 2,610. In Leverkusen, the price per square meter is now 29 percent higher than in 2020 at EUR 3,030, while in Remscheid, the price per square meter has risen by 26 percent to EUR 1,830. Prices have also risen in Germany's most expensive cities, namely Munich (EUR 8,610/sqm; +12%), Frankfurt am Main (EUR 5,960/sqm; +17%) and Hamburg (EUR 5,700/sqm; +19%). However, these are not as high as in the smaller cities.
Those responsible at the Immonwelt Group see several reasons for the fact that asking prices for existing apartments in smaller cities are rising more strongly than in the metropolitan areas. These include the fact that investors are increasingly looking for properties in smaller cities due to the high prices in the major cities. Purchase prices there are still cheaper than in the major cities and attractive yields are also on offer.
Source and further information: immowelt-group.com
© Photodune
