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Real estate prices in Bavaria are rising rapidly: where things are now getting expensive!
Real estate prices rise by 10.3% in Freyung-Grafenau. Find out the background to the current developments in the Bavarian market.
Real estate prices in Bavaria are rising rapidly: where things are now getting expensive!
The comeback of real estate prices in Bavaria is causing a stir. For the first time since 2022, prices have increased across the board, as a current analysis by Immowelt shows. In 81 of 96 cities and districts in Bavaria, prices for existing apartments are rising. The situation is particularly dynamic in Erlangen, where prices climbed by a whopping 11.7% to 4,513 euros per square meter. Passau is also impressive, with an increase of 10.4% to 3,359 euros per square meter. This shows that the demand for living space remains unbroken despite the difficulties in recent years.
A look at the numbers makes the situation clear: in the Freyung-Grafenau district prices were increased by 10.3%, in Landshut they rose by 9.8%. The Passau district also recorded a positive development at 8.2%. In large cities such as Munich, Augsburg, Nuremberg and Regensburg prices rise differently, but here too the trends are positive. In Munich, for example, the increase is 4% to 8,197 euros per square meter, which puts the issue of affordable housing in the Bavarian capital in the spotlight. Regensburg is at 7% at 4,811 euros, and Augsburg is also impressive at 6.7% at 4,353 euros. Even Nuremberg has caught up a good deal with 6.6% to 3,579 euros.
The fluctuations in the market
But it's not all sunshine everywhere in Bavaria. While demand is increasing in the southern regions, the price increases in northern Bavaria are less pronounced. In Würzburg only a minimal increase of 0.1% to 4,089 euros per square meter was recorded. In Bamberg and Hof, however, there were declines of 1.8% and 2.3%, which shows that the real estate market is not homogeneous.
A look at history shows that Bavarian real estate prices have fallen dramatically in recent years. Bavaria reported a decline in 2023 that was the largest in decades. The decline in purchase contracts caused sales on the real estate market to fall by around 40% to around 71 billion euros. Despite the ongoing precarious situation, the desire for living space remains high, which is reflected in the increasing number of apartment completions, which increased by 4.6% in 2023 compared to the previous year.
Prices and price levels in detail
Price levels vary considerably depending on the market segment. Here is an overview of the medians:
| Market segment | Price (median) |
|---|---|
| Building sites for homes | 410 €/m² |
| Commercial building land | 140 €/m² |
| Single family homes | €563,000 |
| Semi-detached houses and terraced houses | €436,000 |
| First sale of residential property | 5,430 €/m² |
| Residential property resale | 3,230 €/m² |
Anyone who deals with the topic of real estate these days has to take a close look. The real estate market offers opportunities and challenges at the same time. The high prices remain unaffordable for many people. Political and economic decision-makers are asked to actively combat price increases and the shortage of housing in order to create transparency in the market and to provide urgently needed housing. A look at the basic data provides the necessary guidance to make smart decisions. How Mercury reports, one of the key challenges is that the balance between supply and demand is still shaky in many regions. But maybe things are moving in the right direction. The real estate market in Bavaria remains exciting!