What are the prospects for the real estate market in Munich by 2030?
- The future of housing in Munich: How are issues of affordability and high prices being addressed?
- The Church of the Virgin Mary and real estate in Munich: what do you need to know?
- What is the current situation with real estate prices in Munich?
- Why is there a growing interest in real estate in Munich?
- What are the features of renting apartments in Munich and its surroundings?
- What are the current housing prices in Munich and its surroundings?
In Munich, which ranks third in population among cities in Germany after Berlin and Hamburg, there are currently about 1.5 million residents. It is expected that by 2030, the population in the Bavarian capital will increase by an additional 250,000, according to information provided by the city's chamber of commerce.
Nevertheless, the housing situation in Munich is quite complicated: as of today, available spaces make up only 0.5% of the total real estate volume. At the same time, 24% of all properties are privately owned by local residents. Issues related to providing housing for new residents and the high level of rental rates create serious problems.
Real estate value
As of today, property prices in Munich have reached an unprecedented level compared to other cities in Germany. Since 2007, the price index for residential space has increased by 32% for houses and by 60% for apartments, which is a true record.
- In 2014, the average price per square meter increased by 9.3% and amounted to 5,474 euros.
- In some prestigious areas of the city, the price of apartments has exceeded 20,000 euros per square meter, which is attracting the attention of many buyers.
Meanwhile, residents of the central districts are forced to leave their familiar places and move to the outskirts, where rental rates reach 18 euros per square meter per month.
Renting and buying housing
Despite the high prices,buying property in MunichIt is still considered a profitable and promising investment. Each part of the city has its own unique features and price categories.
- In Allah-Untermenzing, the cost per square meter is around 5,400 euros, while the rental rate is 13 euros.
- Altstadt-Lehel, known for its rich history and architecture, boasts prices of around 8,900 euros per square meter, while rental rates there are 19.5 euros.
Other districts of Munich also showed a variety of prices. For instance, in Bogenhausen, the price per square meter is 8,100 euros with a rental rate of about 17 euros, while in Sendling it is approximately 5,500 euros. Nymphenburg-Neuhausen, on the other hand, offers apartments at a price of around 5,500 euros per square meter and a rental rate of 15.4 euros.
Elite neighborhoods and their features
Elite neighborhoods, such as Altstadt-Lehel, attract affluent residents and tourists with their unique architecture and cultural landmarks. This area is a symbol of Bavarian culture and history, which is why it is home to many of the city's main attractions.
The issue of housing accessibility
The issue of housing availability remains on the agenda, prompting many residents to seek alternative living options, including the possibility of moving to more remote regions or suburbs where prices have not yet reached unacceptable heights. Nevertheless, interest in living in Munich remains high, and the city continues to attract people from other regions of Germany as well as from abroad.
The Church of Our Lady - Symbol of Munich
Among the diverse architectural wonders of Munich, the Church of Our Lady draws significant attention, as it is rightly considered the unofficial symbol of the city. In the heart of Bavaria, you can also find the famous Marienplatz, where you can see the magnificent town hall buildings and the column dedicated to the Virgin Mary, as well as impressive administrative complexes — the Residence, built between the 16th and 19th centuries.
The old mint and the magnificent St. Michael's Cathedral, designed in the Renaissance style, are equally fascinating.
Housing Prices in the Central Area
In the central part of Munich, there are hardly any residential buildings. This area is rich in historical landmarks, shops, and restaurants, and apartments here are often additional extensions to existing buildings, which stand like luxurious villas on the coast. As a result, the sale of such properties can take a long time.
- Prices for apartments in new buildings:can reach 10,000 euros per square meter.
- The average price for buildings of the secondary housing stock:8-9 thousand euros per square meter.
- Rental rates:can exceed 19 euros per square meter per month.
In any case, buying property in this area is considered a good investment decision.
Real Estate Market in Maxforstadt
When it comes to the Maxvorstadt area, there is a noticeable increase in the population, which is linked to the presence of a large number of students. Many investors are choosing this area as a promising place to invest in premium real estate.
- Prices for elite properties:They start at 8,000 euros per square meter.
- Planned pedestrian zone:It will connect the district's museums and create a green space in the center.
- Average cost per square meter:about 7,200 euros.
It is unlikely that there will be significant changes in housing prices in this area in the future.
Bogenhausen — Secrets of the Old District
Bogenhausen is the widest district in Munich, known for its residential villas built in the early 20th century. Among the owners of such properties, you can find notable individuals, including the famous writer Thomas Mann, actress Maria Schnall, and the head of the investment bank Goldman Sachs.
- The cost of houses in Herzog Park:can reach up to 10 million euros.
- Available real estate options:available in the areas of Prieel and Oberföhring.
- Average housing cost:It amounts to about 7,000 euros per square meter.
- Rental:starts at 16 euros per square meter per month.
Trudoring District: A Chosen Place for the Elite
As for the Trudoring area, this municipality attracts wealthy entrepreneurs, politicians, and high-income celebrities. The most popular real estate is located on Wasserburg-Landstraße in the southern part of this area.
Tudoring is renowned for offering all the amenities for a comfortable life. Residents can enjoy an atmosphere of coziness and quality, which defines the appeal of this place.
Real estate prices
Prices for villas in this area start at two million euros. If you are looking for more budget-friendly options, it's important to consider that there may be noise issues from passing trains on the northern side. However, you will find prestigious apartments here, the cost of which will be significantly lower compared to the elite apartments located in the northern part of Waldtrudering.
Glockenbach district
Glockenbach is a compact yet urban and highly efficient district located south of central Munich. The population density is approximately 20,000 people per square kilometer. This neighborhood, once a working-class area, has become home to many celebrities, including footballer Bastian Schweinsteiger and basketball player Steffen Hamann. Interestingly, Albert Einstein once studied at one of the local educational institutions. Glockenbach has only become a popular and sought-after area in recent years. Among Russians, elite housing in Glockenbach and other luxurious corners of Munich is of significant interest.
Apartment prices
- Real estate in this area surprises even the wealthiest people with its prices.
- Exclusive apartments are offered here for more than 20,000 euros per square meter.
- The highest prices are observed in the 15-story tower "Seven," where a local businessman recently bought a penthouse with a stunning view of the Alps for 20 million euros.
- Residential properties in Glockenbach typically do not stay on the market for more than 2-3 months.
- In the secondary market, the price of apartments ranges from 7,000 to 8,000 euros per square meter, while in new buildings, these prices can reach up to 11,000 euros.
- Rental rates are also quite high; in some cases, they can reach up to 26 euros per square meter per month.
Kharlaikh District
Harlaching is located on the west side of Grünwalderstraße. This area is famous for its luxurious villas built in the 19th century, surrounded by well-maintained gardens and green parks. The high real estate prices in this location are due to its advantageous position on a hill by the Isar River. The main residents of the area are native Germans, predominantly in middle and older age; foreigners rarely visit this area.
Amenities and infrastructure
Getting to the central part of Munich is not difficult, even when using public transport. The infrastructure in the area is well-developed: it has everything you need — shops, restaurants, and medical centers. The average property price in Harlaching is around 7,300 euros per square meter for both residential apartments and houses. However, renting accommodation here can be done at more reasonable prices than in the center — approximately 15 euros per square meter per month.
Popular neighborhoods
In addition, among the popular areas for living and doing business, Nymphenburg-Neuhausen stands out, where there is a constant increase in population. This area is attractive for both families and young professionals, as it offers modern amenities and excellent access to urban infrastructure.
Growing interest in real estate
With the growing interest in real estate, there has also been a corresponding increase in housing prices, which have risen by about 20%. Currently, the average price per square meter in Nymphenburg is approximately 6,600 euros, which is slightly higher than in Neuhausen, where this figure is around 6,100 euros.
Primarily among buyers, young families with good incomes stand out. Investors are actively seeking opportunities to purchase real estate near historical landmarks and castles, such as those located along Tizianstraße. This area captivates with its unique atmosphere and resembles a picturesque ancient English town.
Available housing options
If we consider more budget-friendly options, they can be found in the Schlossviertel area, which is located between the famous Nymphenburg Park and Friedenheimer Brücke street. Despite the name, which suggests a "castle quarter," there aren't many impressive architectural structures here.
Prospects for the Schwabing area
Thus, the Schwabing district is becoming an attractive destination for investment. Experts predict that real estate prices here will rise by as much as 30%. Schwabing is undergoing significant transformation:
- New restaurants are opening up.
- Nightclubs and boutiques are opening up.
- Old establishments are closing down to make way for the construction of modern luxury residential complexes.
The price per square meter in such properties can reach up to 8,000 euros, which is a high figure for this area. Local residents even initiated a lawsuit demanding to halt the construction of one of the high-rise buildings and were successful; however, entrepreneurs continue to transform this once-intellectual neighborhood into a vibrant nightlife center in Munich. In Schwabing, rental properties are also in high demand, attracting the attention of investors.
Features of the Au-Haidhausen district
The Au-Haidhausen district is often compared to Schwabing due to its historical industrial heritage and recent changes.
This area has developed its own unique lifestyle, and every year after the carnival, residents happily open barrels of beer and joke about current issues regarding the authorities and local politicians. Near Paris Square, there is a French quarter with cozy shops and cafes, which adds variety to the local culture.
Housing prices and demand
Au-Haidhausen ranks second in housing costs after Altstadt, where apartment prices start at 6,000 euros per square meter, while in Au they can reach up to 7,000 euros. Construction companies are struggling to meet the growing demand for real estate, which shows a high level of interest in this area.
Apartment rentals in Munich
The rental cost of residential properties in Munich is slightly above the average and fluctuates around 16-17 euros per square meter each month. Many families with an average income are looking for housing in areas like Allach-Untermenzing, which are located on the outskirts of the city.
The number of citizens who can afford to buy an apartment in the central part of Munich is clearly small, as housing prices here are quite high. For this reason, the suburbs are becoming increasingly attractive to potential buyers. Allah and Untermenzing are examples of places where active construction of new residential complexes and modern townhouses is taking place.
The demand for such real estate is only increasing, and developers simply cannot keep up with the needs of those interested. As of today, housing prices remain stable, but a slight increase is expected soon. Luxury villas in this area can reach up to one million euros, while duplex homes can be purchased for 630 thousand euros. More affordable housing options are located closer to the railway, where prices start at 320 thousand euros.
Pazing-Übermensing
In the Pasing-Obermenzing area, a station modernization has recently been completed, and a modern shopping center called "Pasing Arcaden" has been built. Local authorities have planned the creation of a pedestrian zone in this area for the next few years. Significant changes are taking place in the western part of Munich.
The situation is becoming increasingly active as the number of students arriving in the city in search of affordable housing—no more than 11.5 euros per square meter per month—continues to grow. New residential buildings are actively being constructed along Landsberger Strasse. Modern multi-family apartments are being built in place of outdated structures.
The cost of housing in Pazin
You can buy or rent housing in the Pasing area at significantly lower prices than in the central parts of Munich. The average price per square meter for apartments and houses ranges from 5,000 to 6,000 euros. The rent in this region is about 14 euros per square meter per month. Obermenzing is considered a quite popular place to live in Munich.
- A quiet area with picturesque natural landscapes.
- Well-developed infrastructure.
- Reasonable housing prices.
The average purchase price for an apartment or house here ranges from 6,000 to 6,500 euros per square meter. Rental prices also remain affordable, at about 14 euros per square meter per month, similar to Pazin.
Grunwald
Grunwald became known as the "Munich Beverly Hills" or "Rublyovka," which is associated with its numerous advantages and appeal compared to other areas of the city. Grunwald was home to the famous Bavarian film studio, which attracted many stars and producers.
Local residents pay taxes that are three times higher than the national average, which confirms the high status of this area.
Housing prices in Munich
Real estate prices in Munich, especially in the prestigious central areas of the city, remain high. Speaking of the average cost per square meter, it is approximately7,000 eurosWhen purchasing, renting costs consumers an average of18 euros per square meterper month.
Trends in Grunwald
In recent years, there has been a trend that the residential real estate market inGrunwaldIt is starting to exhaust its resources. This area has witnessed an increase in the number of villas put up for sale, as well as a significant subdivision of large plots of land into smaller ones, which opens up the opportunity for less affluent people to become property owners.
Experts claim that the highest demand is for houses priced up to1.2 million eurosHowever, despite the activity of buyers,proposalIt does not always correspond to the real demand in the market. Notably, new residential properties in Grünwald are almost nonexistent. In some cases, the prices of houses that require significant repairs are inflated, which makes potential buyers refrain from purchasing due to the risk of substantial costs for restoring dilapidated buildings that may even be subject to demolition.
Starnberg is a picturesque suburb.
Another interesting place isStarnberg— a picturesque suburb of Munich with a population just above23 thousand people, which is just half an hour away by train from the central station. This area is popular among affluent Germans seeking tranquility and opportunities for outdoor recreation, as it stretches along a picturesque...Starnberg Lake.
In recent years, both the area of this district and its population have remained unchanged. In addition to the lake itself, there are many interesting attractions to be found in Starnberg, including:
- the castles of Starnberg and Leutstetten
- St. Joseph's Church in the Rococo style
- various museums
This city also hosts an international school with English as the language of instruction, making it particularly attractive for foreign families looking to provide their children with a quality education.
Comparison of housing prices
If we compare housing prices in Munich and its surroundings,StarnbergIt looks quite advantageous. The average cost per square meter of an apartment here is about3,600 euros, but for houses, it is a bit higher — around4,400 eurosper square meter. Rental rates are also pleasing: approximately11.5 eurosper square meter per month.
Features of the Zendling district
QuarterZendling, in turn, is not as popular among those looking for housing. This is due to its industrial nature, which mainly attracts people with working professions. At the local factorySiemenspreviously worked more25,000 employees.
The infrastructure in this area leaves much to be desired: there are only a few kindergartens, shops, and medical facilities. The real estate market mainly consists of cooperative and rental properties. Currently, five new high-rise buildings are under construction in Zendling, each of which will have16 floorsRecently, several new residential complexes were put into operation.1,000 apartmentsavailable for both purchase and rent.
The average price per square meter of housing in Zendling is approximately5,500 eurosThis data allows for an examination of the diversity and characteristics of residential real estate in Munich and its surroundings, reflecting a strong interest in this market segment.
Conclusion
The housing situation in Munich is becoming increasingly tense. The rapid population growth and the shortage of affordable housing present serious challenges for the city authorities. With an expected increase of another 250,000 people by 2030, the issue of housing provision is more relevant than ever. Considering that the current level of available housing is only...0.5%It's hard to imagine how the city will cope with this burden.
The rapid increase in real estate prices, combined with high rental costs, is forcing residents to look for more affordable options on the outskirts of the city. This is due not only to the rise in housing prices, which have already reached record levels, but also to changes in the financial capabilities of the residents themselves.
At the same time, despite high prices, investments in capital real estate continue to be attractive to buyers. This is confirmed by the growing interest in elite neighborhoods and prestigious new developments, where the cost per square meter reaches astronomical amounts.
Conclusions
Thus, we observe a clear imbalance between supply and demand, which requires careful planning and thoughtful solutions from the city authorities. In the future, we may need:
- New approaches to urban planning
- More flexible tariff policies
This is necessary for successfully addressing the current challenges. We can expect that interest in living conditions in Munich will not fade away. However, it is also clear that simply raising prices will not solve the problem of affordable housing. As citizens, we must hope for positive changes that will make the capital of Bavaria more accessible and comfortable to live in amid a growing population.
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