Prices rose again in 2020

Last year, too, the prices for which condominiums were offered in Hanover rose significantly more than the general price development. The real estate portal Immowelt puts the inflation rate at 8 percent for new apartments (built from 2016 onwards) and even 10 percent for existing apartments (years of construction 1945 to 2015).

Apartments in Hanover: Purchase prices have risen again

According to the calculation, an average 80 square meter apartment with three rooms on the third floor of a new apartment building cost 4220 euros per square meter – an increase of 320 euros compared to the previous year. For older existing apartments, the square meter price climbed from 2540 to 2800 euros.

This means that Hanover is still much cheaper than metropolises like Munich (new buildings: 9,970 euros; existing buildings: 7,620 euros), Frankfurt am Main (6890/5320), Berlin (5100/3680 euros) or Stuttgart (4670/4590 euros). But it is also much cheaper. For example in Bremen (3670/2430), Leipzig (3450/2150) or Dortmund (3210/2050).

New rent index comes in summer

The values are the prices of the apartments on offer. It cannot be determined whether they were really sold at this price. Only the property market report provides information about this, for which all notarial contracts are evaluated. It will be updated in a few weeks.

Even with the Rents rose again last year, but not quite as strongly. Immowelt put it at 5 percent, according to which the offered square meter rent in Hanover cost 8.46 euros at the turn of the year. The region is currently preparing the new rent index, which is not expected until summer. The values collected in it then also determine the value for the local comparative rent, according to which rent increases are measured.

From Conrad von Meding

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