Animation of the Isar River City Palace: The project developer has sold all 132 apartments in a short time. Source: press photo
MUNICH. The Bavarian capital is famous for its Hofbrauhaus, the most successful soccer team in Germany – and the most expensive home prices across the country. A new study of online agent Immowelt shows that the average price per square meter for apartments in Munich is located just under 3400 euros, twice as high as the all-German funds. New buildings from falling even more expensive. An average house costs 740 000 euros, even three times more than the national average.
Nevertheless, Munich is popular with property investors continues unabated. For in Munich grow population and purchasing power steadily, while the unemployment rate remains well below the national average. And in terms of quality of life of the Munich city enter in all the rankings, top marks.
For about 20 months, real estate agents agree that-the German investors return to the state capital – and access to much more determined than they were two to three years. "Previously it was about the rule of thumb, every 100 inquiries came about two degrees," said Jens Laub, CEO of Optima-Giles Group, a developer of housing in the prestige Nymphenburger courts. "Today, we provide two degrees every ten demands." Even so-called family offices, so the managers of private large fortunes, are interested in being strong for Munich.
Because the demand is huge, but more than just the offer. Something to bring relief foreign investors who have in the wake of the financial crisis divest some holdings. But above all, the search for inflation-driven investments, investors flocked back to Munich. With a good twelve € per square meter (sqm) can achieve an average basic rent, which is twice as high as in the rest of Germany. Well-equipped apartments in the best position to even up to 30 € / sqm achieve.
Therefore, in many segments of the market is almost empty. If you are looking for an apartment for example, about 300 000 euro as an investment object is currently hardly find, "says Andreas Kneip, CEO of Catella Real Estate. She has therefore made a virtue out of necessity and started the first open German real estate fund that focuses only on a city region – namely, Munich.
The luxury segment is still a little more air, but here are nothing remains. In the mansion on the Isar Maistraße, within walking distance to Sendlinger gate, within two years, all 132 homes for an average price of 4600 € / sqm sold, including loft apartments with up to 200 square meters and Alps. Some of them also went to investors, and the apartments are currently offering on Immobilienscout24.de for an inclusive rent of about 23 € / sqm. Even greater is the proportion of investors in the apartment buyers in the Nymphenburg farms: about half of all buyers planning to rent the luxury apartments, estimates Jens foliage. "Our average square meter price is around 6000 €, which is in this central city location or the best offer."
The big question: How long will the upward trend in purchase prices and rents in Munich yet? As Andreas Kneip, many experts expect that "the price increases will continue, but more moderate than before. give Especially in the rental prices so also the law a certain brake. "Even Sven Keussen, managing partner of Munich’s traditional broker Rohrer, warns:" Rents will continue to rise, but eventually they come to a level which is no longer marketable. "
Keussen expected in the coming years will be even a necessarily an exodus into the countryside before the investors in Munich itself are enough objects. He therefore advises investors to focus their attention increasingly on to outlying areas with good infrastructure – that is to catchment areas that are not usually high on the buy list. That could be, for example Solln, Putzbrunn, Riem or Feldkirchen, "In well-connected sub-centers will follow the prices in the coming years. If one buys price-fair here, can increase the value of the object clearly. "