When looking for a property in the greater Munich area, anyone who hoped that the pandemic would slow down the price increases of recent years was hugely mistaken. As the Real Estate Association Germany (IVD) confirms for the district of Munich in its latest report, general uncertainty due to the Corona crisis temporarily led to a noticeable decline in demand and offers in all municipalities. That didn’t change the high prices. The IVD Institute announced that there was no sign of any relaxation in the market. The price level continued to rise between spring and autumn 2020.
A balcony or even their own garden was higher on the wish list for many than before Corona due to the exit restrictions. Working in the home office also quickly reaches its limits in the previous apartment. Many would like to have one more room for a study. But for most such properties, even in the district, often remains a dream. The IVD states: “The purchase or rental of such properties cannot be financially feasible for the majority of those interested, especially in the region, which is already exorbitantly expensive.”
In terms of price, the properties in the district are in some cases hardly behind those in the state capital, sometimes even higher. Especially if the places can be reached by S-Bahn or are south of Munich and are therefore considered to be particularly scenic. Although the area around Lake Starnberg is particularly expensive, the Würmtal, Oberhaching and Grünwald are hardly inferior. Here, too, prices for semi-detached houses, terraced houses and apartments are called up that are similar to those in Munich. This applies even more to rent than to property.
The front runner in the district of Munich is still Graefelfing. The IVD describes the community in the Würmtal as a “very popular residential area”. For existing semi-detached houses, which had cost 1.27 million euros last spring, 1.3 million should be deposited in the fall. New buildings rose from 1.57 to 1.65 million euros. That corresponds to 99 percent of the Munich level. If you want to rent such a property, you pay even more than in the city. If the quality of living is good, you should have up to 3800 euros a month for living.
Obviously Oberhaching is still one of the places of longing for property buyers. The VDI speaks of a “significant excess demand”, which keeps prices at an extremely high level. “Oberhaching is one of the most expensive communities in the district,” says the report. Semi-detached houses are between 105 and 107 percent of the Munich level, whoever wants to buy them new has to reckon with 1.788 million euros. A detached house should be worth two million euros, even row houses cost over a million euros in the popular community. In the neighboring towns along the Hachinger Bach, the properties cost a little less, but prices have also risen here. In Taufkirchen, buying a semi-detached house means 78 percent of the Munich level, and renting even 95 percent. In Unterhaching you need a few thousand more, for a new semi-detached house you have to reckon with 1.49 million euros. If you are satisfied with an older terraced house of average quality, it can quickly cost 623,000 euros, which six months earlier was available for 592,000 euros.
Properties in the Munich luxury suburb of Grünwald are traditionally expensive. “The price level has continued to rise noticeably,” states the IVD. The fact that the willingness to pay is not unreservedly high can be seen in properties that have been offered for several years at completely excessive prices without a sale. “One of the main problems is the lack of divisibility of the plots, outdated zoning plans stipulate plots that are far too large and require much maintenance for today’s conditions. The price per square meter of 1315 euros therefore sounds comparatively low for good quality living. In Graefelfing you pay 2005 euros, in Oberhaching 1995. Land prices are lowest in Kirchheim (1100), Schäftlarn (1125) and Sauerlach (1200).
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