Pay rent or pay off a real estate loan? What’s cheaper in Munich? The analysis shows which monthly is the lower load.
Munich – In view of rising real estate prices, many Germans are faced with the question: Is it still worth buying a home or is renting currently more sensible? House and apartment prices in Munich are moving in such spheres that fewer and fewer people can even consider buying it. One comes to this result for the Bavarian capital immowelt-Analysis. It shows how big the differences are in the monthly rent and repayment installments when buying real estate in 75 major German cities.
How does it look nationwide? In 51 cities, the financial burden of renting housing is lower than that of buying real estate. In 35 cities there is more than 100 euros in between. In the big cities in particular, the purchase prices have moved so far away from the rents that for many people it is no longer possible to buy real estate – despite low interest rates and short loan periods.
What exactly was determined about Munich? This is where the difference in the monthly load is greatest. The repayment installment is 660 euros higher than the rent. An apartment costs a median of 1740 euros in rent, while the annuity is 2400 euros. With an average purchase price of 800,000 euros plus ancillary purchase costs, real estate acquisition can only make sense in individual cases from a financial point of view. In addition, after the 15-year loan term, there is a large residual debt waiting – around 530,000 euros in Munich.
Are tenants cheaper in other large cities too? In Hamburg they get by with 440 euros less than homebuyers, in Frankfurt with 420 euros less. Even in smaller cities, buyers have to expect a high monthly rate: in Potsdam they pay 520 euros more, in Ingolstadt and Lübeck it is over 300 euros on top.
What are the arguments in favor of a purchase anyway? The topic of old-age provision in particular plays an important role in the decision on the type of housing. While tenants have to calculate high living expenses throughout their lives, owners have often paid off the loan by the time they reach retirement age. Another plus for buying an apartment is the creative freedom. Buyers can change the appearance of the apartment without consent and also invest in their own four walls. Even if a change of residence is pending in a few years, the property can either be rented out or probably even sold with an increase in value.
Where would you have to move to do better with a purchase? In 24 of the 75 cities examined, buying is cheaper than renting. Many are in the Ruhr area. In Oberhausen, an apartment with 80 to 120 square meters costs only 137,000 euros on average. With financing over 15 years, this would result in a monthly rate of 410 euros. In contrast, there are average rents of 580 euros, i.e. 170 euros more than the repayment. And in a number of cities, the additional burden is within limits. In Cologne, tenants pay only ten euros less than owners. In Berlin you pay 100 euros more than tenants to repay the loan. The differences are also relatively small in Essen (40 euros), Dortmund (50 euros), Bremen, Hanover (90 euros each). Even in Düsseldorf or Nuremberg (180 euros each), switching to home ownership can still make sense from a financial point of view. *tz.de is an offer from IPPEN.MEDIA.
List of rubric lists: © Peter Kneffel / dpa
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